A project like "Red" McCombs' Village at Wolf Creek would be a gamble in the best of times. Considering, today's business climate with it's spare future outlook, this Village at Wolf Creek seems like the height of folly.
There is good reason for pessimism and caution!
Below is a list of troubled resorts, each name is linked to a news source:
Hudson Valley Resort & Spa, New York
East West Resort Development, Lake Tahoe, NV
Anguilla Resort, Caribbean
Los Abrigados Resort & Spa - Diamond Resorts, Sedona, AZ
Daufuskie Island Resort & Breathe Spa, South Carolina
Dellis Cay development, Caribbean
Tierra Del Sol Resort, Florida
Rivers Inlet Resort, British Columbia
Point Breeze Hotel, Nantucket Island
Tamarack Resort, Valley County, Idaho
Hunt Resort, Fitzroy Island, Great Barrier Reef
Trump Entertainment Resorts Inc, all over
Yellowstone Club, Montana
La Manga Club, southern Spain
Rancho Manana, Cave Creek, AZ
The Whiteface Lodge, Lake Placid, NY
Transmontagne, Alps, Switzerland
Extended Stay Hotels, USA
W Hotel , San Diago, CA
Dubai's Istithmar World & 42nd Street at Broadway, NY, NY
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02/24/2010
Distressed CRE Assets Jump 15% at Nation's Banks
The amount of distressed commercial real estate assets on the books of the nation's banks and thrifts approached $60 billion as of year-end 2009. That is up from $52 billion just three months earlier, a 15% increase. The $59.9 billion includes loans...
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