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W Scottsdale Enters Foreclosure

Tuesday April 14th, 2009 - 7:57AM

SCOTTSDALE, AZ— Open less than six months, the 224-room W Hotel & Residences here has entered foreclosure. The propertys owner, an affiliate of Triyar Hospitality, has defaulted on more than $70 million in loans made by a German bank. The hotel continues to operate, managed by the W brands parent, Starwood Hotels & Resorts Worldwide, while the foreclosure action moves through the courts. The hotel was the first W in Arizona.