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The number of California hotels that are in default on their loans or have gone into foreclosure has jumped a whopping 125 percent in the past 60 days.
There were 32 properties in foreclosure and 174 in default, according to a June 28 report by Atlas Hospitality Group, a regional brokerage based in Irvine.
San Diego County, which has five foreclosures - three hotels and two hotel building sites - tied with Riverside County for second place. San Bernardino County holds the dubious first-place distinction, with six foreclosures.
On the local list are the 46-room Pacific Coast Inn in Pacific Beach; 20-room El Camino Motel in Imperial Beach, which is now closed; 11-room Harbor House Inn on Hawthorn Street; and two building sites, one for the proposed 320-room Cosmopolitan Hotel downtown and another for the proposed 69-room Mt. Woodson Golf Resort in Ramona.
13 Defaults
In the category of hotels in default, San Diego County, which has 13, ranks third...