Windsor files bankruptcy for 8 hotels

Windsor Capital Group has filed bankruptcy for loan portfolio of eight Embassy Suites-branded hotels in the U.S.

The portfolio has about US$100 million in debt and has seen performance suffer due to the economic downturn and the properties need about US$50 million in renovations to renew their franchise with Hilton Worldwide, McLean, Virginia. Windsor Capital Group, Santa Monica, California, manages 22 hotels in 11 states.

Windsor said that the bankruptcy filing would not affect service at the hotels. “We pay our bills. We have not had any interruptions with our vendors or staff,” Craig Stechman, Windsor Capital senior vice president of sales and marketing, told Pacific Coast Business Times. “This gives us time to restructure our debt.”

Exterior of the Embassy Suites Cincinnati - Northeast (Blue Ash) Hotel
Exterior of the Embassy Suites Cincinnati – Northeast (Blue Ash) Hotel

The affected properties are:

  • Embassy Suites Cincinnati – Northeast (Blue Ash) Hotel
  • Embassy Suites Colorado Springs – Hotel, located in Colorado Springs, Colorado
  • Embassy Suites Denver – Southeast Hotel
  • Embassy Suites Detroit – Livonia/Novi Hotel, located in Livonia, Michigan
  • Embassy Suites El Paso Hotel, located in El Paso, Texas
  • Embassy Suites Portland – Washington Square Hotel, located in Tigard, Oregon
  • Embassy Suites Seattle – Bellevue Hotel, located in Bellevue, Washington
  • Embassy Suites Seattle – North/Lynnwood Hotel, located in Lynnwood, Washington