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Podcast: News For Reasonable People
Episode: #2,786 - Decision to open stunning Ritz-Carlton Hotel in downtown Portland in 2023 backfires spectacularly
Description: The luxury Ritz-Carlton Hotel in downtown Portland, Oregon may be in trouble after less than just two years of operation. Ready Capital, the lender to real estate group that owns the hotel announced a bleak future for the Ritz-Carlton in a report detailing the corporation's fourth-quarter earnings. 'The fourth quarter closes out a year of mixed results,' CEO Thomas Capasse wrote in a press release. 'On one hand, our Small Business Lending segment performed well, with significant origination growth reflecting the benefits of...