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The Fairmont Hotel in San Jose, California just closed its doors and will remain locked for about two to three months. This happened after it filed for chapter 11 bankruptcy last weekend.
The filing for chapter 11 and reorganization is expected
As per the NBC Bay Area, the operator of the iconic Fairmont Hotel which is the FMT SJ LLC filed for bankruptcy on Friday, March 5. It was obviously a sudden event as there are still occupants in the hotel when the bankruptcy was filed and announced.
"We know that by taking this difficult step, we will come back a more vibrant hotel to the benefit of everyone in San Jose, including the vitality of the city's downtown, nearby businesses, and Silicon Valley conventions in a post-COVID-19 world," Sam Singer, Fairmont Hotel's spokesperson said.
The FMT SJ LLC is now looking for a management partner for the hotel’s operations to resume. It is also looking to extend the company’s existing mortgage debt. Fairmont Hotel in the Bay Area revealed that it is one of the affected businesses in the economic fallout that was brought about by the COVID-19 pandemic.
The crisis drove away customers as there are no travelers now and conventions are not allowed as well. Thus, there are no bookings and the 805 rooms in the hotel are mostly vacant. The hotel’s representative assured the hotel will make its comeback after 60 to 90 days once a new management team is found.
Guests were ordered to leave
The Fairmont Hotel still had guests when it abruptly halted its operations on Friday. SF Gate reported that everyone was told to leave and at that time an entire ice hockey team which is the Vegas Golden Knights was staying in the hotel as it has a game against the Sharks for their two-series game match as part of the National Hockey League.
Fairmont Hotel transferred all of its guests to a nearby hotel and paid for their stay as well. In any case, the official website of the company did not mention anything about the temporary closure but bookings are not available.
