The Orlando Condo Blog

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Mona Lisa Condo Hotel Files…

Published: 02 February 2009 - Author: Marcus Burke

Mona Lisa condo hotel just became the latest condo hotel to file for Ch. 11 reorganization after a series of declines in occupancy and rental rates.

Last month World Quest Resort suffered a foreclosure suit as developers struggle to keep their heads above water.

The Mona Lisa condotel is a $70 million, 240-room condo-hotel which opened in early 2008.

Only around 70, or 30 %, of the units have sold to date leaving Mona Lisa with about 170 units to sell.

As of the petition date, Mona Lisa is said to owe more than $36.15 million to more than 68 creditors. The largest creditor is BankFirst for $35 million, and the remaining $1.15 million in debt is owed to unsecured creditors.

Last year The Mona Lisa Suite condo hotel joined Worldhotels’ deluxe collection. By joining Worldhotels, the condo hotel is part of a network of properties that can be booked through 600,000 travel agent terminals.

Worldhotels is the largest and most established Europe-based global hotel group for independent hotels and regional hotel brands. The company has about 500 member properties in more than 300 destinations and 70 countries worldwide.

For more information on Orlando’s condo hotels email us – or give us a buzz!

Comments

  1. Irshad Soomro wrote:

    After Bankfirst, probably I am the largest contributor to Monalisa Condotel unsecured loans. This is to the tune of $77000 and $10,000 towards the fees paid to various agents who promised me to get the loan. I am still waiting and praying for the security of my hard earned money in Nottingham United Kingdom.

  2. Irshad Soomro wrote:

    I am still waiting for the recovery of my money. Court keeps telling me that mine was unsecured and bank’s money was secure. Please dont bail out corrupt instititutions at the cost of individuals who earn money honestly. That cant be good for USA which is trying to attract investment for job growth.
    Nottingham
    UK

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