Man accused of bogus charges at posh hotelsA south suburban man is accused of making more than $80,000 in fraudulent credit card charges to stay at the Trump Tower and other luxury hotels in Chicago. Daniel James, 21, of Riverdale was charged with financial identity theft and theft, both felonies, the Cook County state's attorney's office said this afternoon. From Dec. 13 to Jan. 3, James allegedly charged $19,423 to a card at the Trump ...

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Hotel Loan Defaults in U.S. Jump to $17 Billion as Recession Curbs Travel

July 4, 2009, 10:17 am | RevolutionRadio.org

By Dan Levy and Nadja Brandt July 1 (Bloomberg) ? As many as one in five U.S. hotel loans may default through 2010 as the recession means companies are spending less on travel and perks, according to University of California economist Kenneth Rosen. The value of hotel properties in default or foreclosure almost doubled to $17.3 billion in the second quarter through June 24 from $9 billion at the end of the first quarter, data compiled by Real Capital Analytics Inc. show. The New York-ba