Two hotels in the East Bay have tumbled into bankruptcy ahead of scheduled foreclosures, in a fresh sign that post-coronavirus maladies still afflict the feeble lodging markets in the Bay Area.
The owners of hotels in Livermore and Berkeley have filed separate petitions with the U.S. Bankruptcy Court for Chapter 11 proceedings to reorganize their finances.
Both hotels face loan defaults due to delinquent mortgages on the properties, according to documents on file with the Alameda County Recorder’s Office.
The bankruptcies and loan defaults are a reminder of the severe downturn in the Bay Area hotel market…