GREENSBORO — A consultant’s report ordered last week by the city of Greensboro leaves little room for doubt: “It is clear that the proposed hotel will not be able to compete economically at a viable level.”
The hotel in question is the now $52.5 million, 200-room hotel and conference center proposed for the middle of downtown Greensboro. The 53-page consultant’s report, ordered by Andy Scott, the city’s assistant city manager for economic development, was completed over the weekend by HVS, one of the nation’s leading experts in assessing hospitality markets. The report evaluated the latest feasibility study filed a week ago by the hotel proponents.
Scott received the report Tuesday, but did not share it with council members that day because of confusion surrounding whether council had recommended three projects for bond financing — including the hotel — on Dec. 15 without knowing it. That appears to have been the case.
Yet Scott, who says he would distribute the report to council members this week, adds that the conclusions still could play a role in determining whether an underwriter or bond-rating agency will take the project seriously. Final decisions regarding bond worthiness won’t be made until May, he says.
The Business Journal, which obtained a copy of the report, shared it on Wednesday with Randall Kaplan, one of the lead partners in the hotel project and co-owner of Elm Street Center, which would become the luxury hotel’s conference center. His response upon reviewing HVS’s conclusions
link
http://meganfoxstar.blogspot.com/
http://elishasexycool.blogspot.com/
http://junkfoodtoday.blogspot.com/
http://japanesefoodyum.blogspot.com/
No comments:
Post a Comment