Popular hotel files for bankruptcy after just two years amid $17million debt struggles – fans say they ‘saw this coming’ ...Middle East

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Popular hotel files for bankruptcy after just two years amid $17million debt struggles – fans say they ‘saw this coming’
source : The U.S. Sun ( Middle East ) () 13
A POPULAR hotel has filed for bankruptcy just two years after opening. Located in Silverthorne, Colorado, The Pad is struggling to pay $16.7million in debt. thepadlife.comThe Pad is a hybrid hotel and hostel[/caption] thepadlife.comRooms range in price from $45 a night for dorm-type rooms to $325 for suites[/caption] The hybrid hotel and hostel reported just $2.1million in revenue last year, and $1.9million in the first nine months of this year, reports Summit Daily news. It is valued at $21million. The room rates range from $45 per night for dorm-type rooms to $325 for suites. “We wanted to build something that was unique and special,” Rob Baer, co-owner, told the news o

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