LA’s $30 minimum wage pushes hotel owners to breaking point

[rangerrebew]

 
LA’s $30 minimum wage pushes hotel owners to breaking point
By Benjamin Brown
Published May 16, 2026, 10:00 a.m. ET
 
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.”

 https://nypost.com/2026/05/16/us-news/la-hotels-sound-alarm-over-30-minimum-wage-threat/

[PeteS in CA]

Well, this was predictable to anyone using a quarter of a brain.

Even if, unlikely enough, the City of LA rescinded this ordinance instantaneously, the damage is done, and prospective hotel owners will know not to trust the City of LA not to inflict other and further moronicity.