Iconic Mandarin Oriental owner files for Chapter 11 bankruptcy

Group 1: Bankruptcy Filings - A number of resorts, hotels, and mixed hotel-apartment complexes have filed for bankruptcy in the last months of 2025, including The Tuscany and Hotel 27 in New York City, which shut down operations in September 2025, and Oheka Castle hotel in Long Island, which is in Chapter 11 proceedings with debts exceeding $60 million [1][2] - Vacation rental company Sonder filed for Chapter 7 bankruptcy in November after Marriott withdrew from a key licensing deal, while the owner of Fairmont Breakers hotel in California's Long Beach also filed for bankruptcy amid over $50 million in debt [2] Group 2: Mandarin Oriental Project - The owner of Mandarin Oriental Boca Raton has filed for Chapter 11 bankruptcy, with the company being part of a luxury hospitality group founded in 1963, which currently operates 45 hotels and 12 residences globally [3] - The construction of a new 164-room Mandarin Oriental in Boca Raton began in 2019 but has faced multiple delays and lawsuits related to deposits for 95 private homes and condos included in the development plans [4][5] - Via Mizner Owner II, the development company, filed for Chapter 11 bankruptcy on December 23, showing debts of approximately $130.2 million to TIG Romspen US Master Mortgage LP and $80 million to Via Mizner Funding, L.P., while holding assets between $50 million and $100 million [6] - The filing indicates intentions to restructure secured debt and continue the project while protecting property value, with creditors including design and construction contractors and Nicholas Architects [8]