>St. Regis Foreclosure: Sign of More Troubled Times for Hotels

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>Hotel owners are under enormous economic pressure, especially those carrying a lot of maturing debt. The St. Regis Monarch Beach Resort in Orange County, CA, this week became the latest luxury hospitality property to be taken over by its lender when Citigroup Inc. seized the 400-room hotel after it fell into default on a $70 million mezzanine loan

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