Sunnyvale Colorado Hyatt Hotel
Two Silicon Valley hotels are defaulting on their mortgages and face the possibility of deepening the economic woes caused by the coronavirus, according to public documents filed in Santa Clara County in September. The Sunnyside Hotel in San Jose, Calif., and the Skyline Hotel and Spa in Palo Alto have run into trouble because they failed to service a $37 million loan from Cantor Commercial Real Estate Lending in 2014, according to county documents, and both could be foreclosed on. District documents showed that the hotel, with a capacity of about 1,000 people and a total annual turnover of $1.2 million, was defaulting on mortgage and loan payments, according to district records.
The main client, Wild Palms, is the most important visitor to Avante, according to district records. The Sunnyside Hotel and Spa in San Jose, California, and the Skyline Hotel in Palo Alto are considered among the WildPalms "most important corporate clients.
The Sunnyside Hotel and Spa in San Jose, California, and the Skyline Hotel in Palo Alto are also managed by subsidiaries that are the hotel owners in default.
An analysis of these hotels a few years ago revealed that the Wild Palms Hotel and the Hotel Avante are part of the Joie de Vivre Hotel Group, a boutique chain owned by Hyatt Hotels. According to a 2014 review of these hotels, Conley is the co-founder and CEO of JoIE - de - Vivres Hospitality, a company that has grown under his leadership to become the largest boutique hotel chain in the country, according to the 2014 hotel review. A spokeswoman for the two hotels, which are part of the Joie De Vivre brand chain, did not respond to a request for comment.