PASADENA : Ritz-Carlton Huntington to Be Auctioned Today

The Ritz-Carlton Huntington Hotel in Pasadena is scheduled to be auctioned today in front of a title company office in Rosemead.

The auction comes after a 30-day postponement apparently failed to produce an agreement between the hotel’s owners and creditors. The four partners who own the hotel have been in default for several months on a $106.4-million loan from Dai-Ichi Kangyo Bank.

Thomas Tellefsen, one of the partners, said late Monday that they were still awaiting word from the bank on a refinancing proposal.

“We don’t know which way it’s going to go,” he said.

The luxury hotel, which has hosted presidents and celebrities for nearly 80 years, was modernized two years ago but the economy has cast a pall on occupancy rates. The hotel is managed by the Ritz-Carlton Hotel Co., which does not have an ownership interest.