Hilco Real Estate Sales is auctioning off the 309-room Ontario Airport Hotel & Conference Center in Ontario, California, as part of a Chapter 11 bankruptcy sale. The hotel, boasting extensive amenities and strategic location near Ontario International Airport, presents a prime opportunity for hospitality operators and developers looking to capitalize on the growing Inland Empire region.
Nearly half of households in the Inland Empire, encompassing Riverside and San Bernardino counties, are struggling to meet their basic expenses, according to a Census Bureau survey. The area has the highest proportion of respondents facing financial stress among the 15 largest US metro areas. One-third of households reported difficulties paying energy bills in the past year, and one in seven experienced food insecurity in the previous week. Despite a booming warehousing industry during the pandemic, the metro area has seen a recent slowdown and higher-than-average unemployment and inflation rates.
