Scotts Valley Hilton scheduled for foreclosure sale Jan. 18

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SCOTTS VALLEY – Lenders are foreclosing on the owners of the 187-room Scotts Valley Hilton, setting a Jan. 18 sale date for an unpaid debt of $16.8 million.

According to default notice filed with the county, $1.2 million was owed as of mid-July.
Statewide, 582 hotels were in default or foreclosed in the third quarter, up 71 percent from a year ago, according to the Atlas Hospitality Group based in Irvine.

The fourth-quarter survey has not been posted yet but Atlas Hospitality founder Alan Reay predicted an uptick for the first three to six months of 2011.

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