The Dallas commercial office space market, as well as its commercial hotel market, has been particularly hard by the national economic downtown and real estate slump.

Although both business and pleasure travel have picked up in the Dallas-Fort Worth area, there are still many hotels and office buildings in the area going through foreclosure.

Hotels in Deep and Foreclosures Loom

In fact, the latest statistics show that the number of hotels in the area facing foreclosure has more than tripled in 2010. To date, 94 North Texas hotels have gone into foreclosure; there were just 30 recorded in 2009, according to Foreclosure Listing Service Inc.

Some of the hotels that have foreclosure looming are the Crowne Plaza in Addison, the Radission Hotel on the LBJ Freeway, and the Element Hotel near the Dallas-Fort Worth International Airport.

According to Foreclosure Listing Services, hotels with more than $120 million in debt are to be auctioned off by the lenders next month.

Large Foreclosures make History

Some of the largest foreclosures filed over the last year in the Dallas-Fort Worth area include the 431-room Four Seasons Resort and the Club Dallas in Las Colinas. Club Dallas reported over $175 million in debt and was the largest mortgage default in North Texas in the last 20 years.

Although these statistics seem quite striking, many financial analysts are quick to say that a large number of hotel foreclosures are typical for the economic times. Unfortunately, for many hotels and the Dallas commercial office space market for the matter, the recession has simply gone on longer than anyone had anticipated. In other words, many of the commercial properties simply couldn