The Ontario Airport Hotel & Conference Center is set for auction next month due to owner Morgan Group Holding filing for Chapter 11 bankruptcy in April. The lender, Cathay Bank, had previously tried to force the property into receivership over a debt of $13.6 million, according to a report from the Commercial Observer. Despite renovations last year, the hotel will now be sold, with bids due by July 9th. Located near Ontario International Airport at 700 N Haven Ave. in California’s growing Inland Empire region, the hotel totals more than 232,000 square feet.
Hilco Real Estate Sales, the broker for the auction, sees this as a unique opportunity to acquire a well-performing property in a key location, according to the report. The area’s significance is likely to increase, given the Inland Empire’s dominance in industrial logistics space.
The 309-room Ontario Airport Hotel & Conference Center is a full-service hotel situated on 8.48 acres of land, just minutes away from Ontario International Airport and Ontario Conference Center. The hotel boasts over 21,000 square feet of amenities, including meeting spaces, a restaurant and bar, a coffee shop, an outdoor pool and a fitness room, according to a listing on LoopNet. The asset was originally constructed in 1985.
Located 35 miles northeast of Los Angeles, Ontario serves as a gateway to Southern California, offering access to major interstates, railways, and the Ontario International Airport. The city’s recent development of a massive logistics building for Amazon further solidifies its position as a thriving hub for industry and commerce.
