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In the last six months, multiple hotels in Oakland have faced foreclosure, signaling a troubling trend of financial distress within the hospitality sector. The city’s most prominent hotel, a 500-room downtown landmark located at 101 Broadway near the convention center, has officially fallen into the hands of its lender following a foreclosure. With a purchase price of just under $70.2 million and over $100 million in debt, the property’s value has plummeted from an estimated $143 million in 2017—when Hong Kong-based Gaw Capital acquired it—representing approximately a 50% decline.