A hotel complex in San Jose, comprised of a Motel 6 and Super 8, faces a loan default on $21.7 million from Choice Hotels International, emphasizing the ongoing financial struggles of the Bay Area lodging sector. The affiliate led by Texas executive Jagmohan Dhillon, which secured the loan in 2024, has also encountered issues with other properties, including a bankruptcy filing for a Livermore hotel. The hotel at 2560 Fontaine Road is experiencing additional financial pressure with delinquent property taxes slated for 2024, contributing to a growing list of challenges affecting hospitality in the region.
A big hotel complex in San Jose has staggered into a loan default, a reminder that the Bay Area lodging sector's post-coronavirus maladies are still ongoing.
The hotel site, consisting of a Motel 6 and a Super 8, is in default on a $21.7 million loan from Choice Hotels International.
The San Jose hotel site's property taxes due in 2024 are also delinquent, highlighting the ongoing financial issues for the Bay Area lodging industry.
This loan default is part of a widening array of financial woes impacting the Bay Area lodging industry since the pandemic.
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