SHOW-ME BIG MONEY HOTEL DUDE GONE BUST SHOULD REMIND KANSAS CITY ABOUT DANGERS OF THE HOSPITALITY GAME!!!
Cheerleaders for the proposed Downtown Kansas City convention hotel should be just a bit scared by a big money FAIL in the news today that holds greater implications for the future of the HUGE project.
To wit . . .
SHOW-ME AN EPIC MISSOURI CORPORATE BUST REVEALING THE RISKY NATURE HOTEL INDUSTRY!!!
Tax fighters argued this thing in court the best they could and now City Hall is taking on a great deal of risk IF any real investors besides 12th & Oak sign on . . .
Here's the most comprehensive report on the topic of regional hotel chain FAIL from earlier today . . .
John Q Hammons Hotels File for Bankruptcy Protection
Developing . . .
Private business doesn't need to make money as long as they'be got local governments to pay their bills.
ReplyDeleteHe only has one hotel in Kansas City. The rest are in other parts of Missouri. The article said they filed bankruptcy in response to litigation, whatever that means.
ReplyDeleteKc Commerce Bank loaned St Louis money for a convention Hotel. Ask them how that turned out? Foreclosure!
ReplyDeleteThey knocked down the Capri Hotel to soon.
ReplyDeleteRutt Row !!!!!!
ReplyDeleteGood thing we passed the E-Tax so he has nothing to worry about.
ReplyDeleteJohn Q. Hammons of Springfield, MO died several years ago. He built a small fortune by being one of the early Holiday Inn franchisees.
ReplyDeleteThe family gave multi-millions to support Missouri State University (SW Missouri State).
Prior to his death there was legal wrangling for control of the company. As another comment said, this bankruptcy filing was apparently a legal move.