United States

Hotel owners are scrambling to flee Los Angeles, warning of financial ruin after soaring minimum wages and a lack of buyers for their properties. Jon Bortz’s company owns eight hotels in Los Angeles, but he wants out. The problem? No one’s buying.  “We sold one last year — we would love to sell more of our hotels. I’ve stated that publicly in Los Angeles,” Bortz, CEO of Pebblebrook Hotel Trust, a publicly traded real estate investment trust, told The California Post. “But, there are no buyers.” Other hotel owners feel the same way, including one who asked not to be…

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