Click the play button on the video window to the see the storyPARADISE VALLEY, AZ -- President Barack Obama spent his first night in the Valley as Commander In Chief at a resort currently facing foreclosure proceedings.
The next day,
he gave a speech about the foreclosure crisis facing Americans.
The lender to the owner of
The Intercontinental Montelucia Resort and Spa in Paradise Valley recently began foreclosure proceedings against the property.
"The commercial market definitely needs some assistance right now," said Jeff Schonberger with Phoenix-based Derito Partners. "Hopefully (Obama) can get the feds to loosen up on the banks so they can start lending money again."
A Montelucia spokesperson wouldn't comment on the president's accommodations Tuesday night at the resort.
But according to the Intercontinental Montelucia website, the Presidential Suite is 3,000 square feet and features a private pool, flat screen TVs and goes for $3,000 to $4,000 per night.
"It's bizarre for me to stay here, I'm just a poor teacher from the east coast," said Jerry Coggins, a guest at the Montelucia from Hoboken, New Jersey. "It's kind of odd I'd be staying at the same place as the president."
Perhaps not coincidentally, Obama picked the same resort where his opponent in last November's election, Arizona Senator John McCain, planned to hold a party to kick off his 2010 Senate campaign Tuesday night.
"I knew McCain was having his campaign kick off party," said Paul Gerding of Paradise Valley. "It surprises me Obama was coming here for that reason."
