January 23, 2009 - Mona Lisa at Celebration, Celebration FL

The Mona Lisa at Celebration filed for Chapter 11 bankruptcy reorganization last week, just several months after the condominium hotel opened.

Mona Lisa Condominium hotel files for Chapter 11

The Mona Lisa at Celebration filed for Chapter 11 bankruptcy reorganization last week, just several months after the condominium hotel opened. The Mona Lisa was the first U.S. project for Mona Lisa Hotels and Residences, a French company that has 23 hotels in France. Although executives said about 85 percent of the hotel's rooms were under contract by mid-2006, the hotel missed its initial opening date by about a year. The hotel has reported estimated liabilities of between $10 million and $50 million. A creditors' meeting is scheduled for Feb. 23.

Original Story - Orlando Sentinel