Se Hotel San Diego Joins Hundreds of Hotels Falling Into Default
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.
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.
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
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