SAN JOSE — A big hotel in San Jose has received multiple financial boosts from its lender this year, hopeful indicators that the lodging facility has begun to recover from coronavirus-linked economic woes.
“Our lender recognized the great amount of equity that we have and continue to build in the Signia,” Hirbod said in an interview with this news organization. “This is why they increased the loan sizes a couple of times.” The 805-room hotel reorganized its finances through the bankruptcy proceeding and reopened in April 2022, rebranding as a Signia by Hilton hotel.
In June 2023, the loan was modified for a second time, reaching a new amount of $193.4 million, which was 4.5% higher than the original loan amount.
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