Moxy Uptown Oakland stops taking hotel reservations and is expected to close

"According to a report in the San Francisco Standard, the hotel has stopped accepting guests and closed its colorful bar, which has recently hosted parties. A call this morning from The Oaklandside to the Moxy global reservation desk found that even though the service operator believed the hotel was still taking guests, there was no room availability on any day over the next three months."

"The hotel, which has offered 172 rooms at a modest price for the past five years, first appeared to be struggling financially when its operators, Tidewater Management and Graves Hospitality, defaulted on a $35 million loan from Acore Capital Mortgage this past August. In September, the hotel came under the management of Michelle Russo, founder and CEO of hotelAVE, an asset management firm that prepares properties for high-end sales."

"The launch of Moxy Uptown Oakland in 2021 was seen as a sign of downtown Oakland's rebirth, which over the past 15 years has included brand-new apartment complexes on Broadway, new or upgraded retail, and new restaurants downtown and in North Oakland. Many of those businesses, such as the apartments and restaurants, have been successful, but some retail and hospitality businesses have struggled during and after the pandemic. In August, The Oaklandside reported on the recent history of challenged Oakland hotel properties."

Moxy Uptown Oakland has stopped accepting guests and closed its bar, and no rooms were available for the next three months when checked. The 172-room hotel operated at modest prices for five years before its operators defaulted on a $35 million loan to Acore Capital Mortgage in August. Management shifted in September to Michelle Russo of hotelAVE to prepare the property for a potential high-end sale. The hotel opened in 2021 amid downtown Oakland revitalization that included new apartments and retail. Some Oakland hospitality and retail businesses have succeeded, while others have struggled during and after the pandemic.

Read at The Oaklandside