The note was renegotiated as part of a broader renegotiation involving some other MHG properties. The lender was a private investment group. The hotel continues to underperform, horrible RevPARs this past quarter. The W Scottsdale was salvaged from bankruptcy last week which will only serve to add more competitive room product and make things worse for the Mondrian Scottsdale. In fact the W is a much better property.

Last week's announcements failed to buoy the stock, people are waiting for the annoucement that Fred and Marc are gone and that did not happen, in fact Marc got promoted.

Let's see what happens on tonight's earnings call, I'll check back in with this board tomorow.