Westin Book Cadillac owner says his hotel is heading into foreclosure

[night-timer]

I don't know if this is a solution, but all of the major and/or 5-star hotel brands are in the habit of buying-out other hotels' properties and re-badging them.

So, maybe someone with more money that the owner of the Book Cadillac [[Hilton, Accor, Marriott, etc) might buy up the property.

Having said that, COVID-19's decimating effect on travel and tourism comes into play in all of this... so maybe make it a Downtown Condo-only building, with no hotel/business except ground floor retail shops?

Isn't that what's happening further along the street at the Book Tower?

Fernando Palazuelo sure failed to live up to his promise in Detroit...

[401don]

I don't know if this is a solution, but all of the major and/or 5-star hotel brands are in the habit of buying-out other hotels' properties and re-badging them.

So, maybe someone with more money that the owner of the Book Cadillac [[Hilton, Accor, Marriott, etc) might buy up the property.

Having said that, COVID-19's decimating effect on travel and tourism comes into play in all of this... so maybe make it a Downtown Condo-only building, with no hotel/business except ground floor retail shops?

Isn't that what's happening further along the street at the Book Tower?

Fernando Palazuelo sure failed to live up to his promise in Detroit...

Your solution to a fine hotel is to double the mortgage by ripping apart all those new hotel rooms and constructing condos? Someone will buy it but it won't be a hotel chain. Last thing operators need to get back on their feet after the pandemic is to buy properties.

[KnnNike]

I don't know if this is a solution, but all of the major and/or 5-star hotel brands are in the habit of buying-out other hotels' properties and re-badging them.

So, maybe someone with more money that the owner of the Book Cadillac [[Hilton, Accor, Marriott, etc) might buy up the property.

Having said that, COVID-19's decimating effect on travel and tourism comes into play in all of this... so maybe make it a Downtown Condo-only building, with no hotel/business except ground floor retail shops?

Isn't that what's happening further along the street at the Book Tower?

Fernando Palazuelo sure failed to live up to his promise in Detroit...

Palazuelo has nothing to do with this property; what on earth are you talking about?

And no, Book Building renovations do not involve gutting a newly-remodeled hotel and adding in condos. That would be an insane waste of money.