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IRVINE, CA-The number of defaulted and foreclosed hotels in California continued to rise in the second quarter, climbing by 18% between the first and second quarters and increasing by 132% since the second quarter of 2009, according to a new report from Irvine-based Atlas Hospitality Group. The survey shows that 478 California hotels are in default or have been foreclosed upon, but Atlas president Alan X. Reay tells GlobeSt.com that the company believes the true number of distressed California hotels is much higher, with “over 1,000 properties operating under some form of forbearance agreement.”


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