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Dubai World Woes Affect U.S. Hotels

Dec 1, 2009 8:03 AM

From The Associated Press:
$60-Billion Debt Threatens Investments in Fontainebleau, CityCenter, Others
Dubai World borrowed billions of dollars to acquire some of the most high-profile commercial developments in the United States in recent years, and it could be forced to sell them at a loss if the Persian Gulf conglomerate can't restructure its debts. Among Dubai World's U.S. assets are several luxury hotels — a sector that has been one of the hardest hit by the fallout from rising unemployment and plunging real estate values this year. Click here for the full story.

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