Sheraton hotel

A few weeks ago, I reported for WalletPop on the wave of foreclosures striking California hotels -- a 27% increase in the first quarter of 2010. Some large hotels changed ownership because of the continuing weakness of the real estate/hotel market here. Now comes word from the Los Angeles Times...

With jobs, paychecks, and disposable income evaporating across the country, business is tough all over. However, the last year has been devastating for the hospitality industry, as consumers cutting back on luxuries have been quick to reduce or eliminate their vacation budgets. According to a...