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Owners of the Ramada Hotel at Oakland Airport have filed for Chapter 11 bankruptcy protection to forestall eviction after their landlord, the Port of Oakland, rebuffed a plan to sell the hotel.
Listing liabilities of $5.6 million and assets of $10.05 million, Oakland Airport Hotel Corp. filed a bankruptcy petition with the U.S. Bankruptcy Court in Oakland.
The filing came after the Port of Oakland -- which owns the land and title to the hotel property -- rejected a proposed sale because the deal's prospective buyers were asking the port to extend terms of the lease on the hotel and would not guarantee commitments on property improvements.
The …