Foreclosure Deals: W Scottsdale and InterContinental Montelucia

Rumor has it that the newly-opened InterContinental Montelucia Resort and Spa could be in trouble. (And we were so giddy about its debut!) Like the W Scottsdale, the luxury property is struggling with a ginormous mortgage, perhaps headed down the road to foreclosure. The market for luxury hotels in Phoenix/Scottsdale is simply saturated, and in this down economy, the area is "leading the nation in the drop of occupancy of hotels." What this means for consumers is there are some deals to be had in sunny Arizona. At the W Scottsdale, you can get 50 percent off your second night. The InterContinental Montelucia is giving away a third night free, or a $300 resort credit when you stay three nights.