The owner of the former Hilton Hotel in downtown Pittsburgh has filed for bankruptcy. Shubh Hotels Pittsburgh, LLC of Boca Raton Florida claims in the court filing today that it has between $10 million and $50 million in assets but between $50 million and $100 million in debts.
BlackRock Financial, which holds a $46 million mortgage for the hotel foreclosed on the hotel last week. That action came a day after Hilton Hotels and Resorts canceled its franchise licensing agreement with Shubh and stripped the Hilton name from the downtown Pittsburgh hotel.
Tuesday, September 7, 2010
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