Se Hotel San Diego Joins Hundreds of Hotels Falling Into Default

» 03 June 2010 » In Luxury, Travel »

Se Hotel San Diego Joins Hundreds of Hotels Falling Into Default

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An unfriendly operating climate has taken its toll on another downtown San Diego hotel property — the latest of more than 30 in the region and 400 statewide to enter some stage of default.

Operators of the 184-room Sè San Diego hotel, an upscale boutique property at 1047 Fifth Ave. that opened in 2008, confirm that the hotel’s lender, a German bank, has filed a notice of default in connection with a $72.9 million construction loan. Such notice is the initial step in a foreclosure process.

Source

I called this one back in December 2008: Setai San Diego Hotel Almost Open.

Which reminds me, I made a friendly wager with one of my droogs that this would happen before December 2010.

Time to collect.

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The Rest is Up to You…

Michael Porfirio Mason
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