Thursday, July 20, 2017

SHOCK!!! HYATT SEYZ KANSAS CITY CONVENTION HOTEL AROUND $40-MILLION SHORT OF FINANCING AT ONE POINT!!!

As our blog community has noted time and time again . . . City Hall is carrying most of the burden for this troubled project. Checkit: Behind the scenes deets on the jacked funding and strange cash games of the Downtown Convention Hotel . . .

Exec: Hyatt got the boot after lending a hand with convention hotel equity - Kansas City Business Journal

A senior Hyatt official said he was surprised to learn a few months ago that KC Hotel Developers LLC was coming up $30 million to $40 million short on equity for the convention headquarters hotel project. Hyatt declined to fill that gap but put the developers in contact with a willing investor that, like Hyatt, ultimately was jilted.

9 Comments:

Anonymous said...

Welcome to business as usual in KC.

Embarrassing.

Anonymous said...

The only financing Burke had was from Hyatt and the city- now the Hyatt is out- he has no Money-
Schulte, and the Mayor lied to the council, who were told We saw the financing everything looks great". yeah except they are $40mm short.

Anonymous said...

The Hyatt flew down to see the Mayor? Hyatt still has the catering contract? What's this lawsuit going to cost us?

Anonymous said...

Burke told the court that he has a contract with Hyatt- only Hyatt now says there was no contract. Perjury is bad.

Scott Taylor for Mayor!
I've been asleep the whole time so I can't be guilty, really I am the rip van winkle of city councilmen.
Is it time to fundraise or run Yawwwwnn!

Anonymous said...

When you look at the absolute shit show surrounding the airport first in 2013- the mayor and Troy blamed VanLoh, then (fast forward) the Mayor and Troy's No Bid contract for Burns and McDonnell press conference, then the sure everyone can bid but Burns and McDonnell is going to win anyway announcement, then the everyone in KC can participate bid. Now this. All this screams- amateur hour- what a complete bunch of clowns.

Northlander said...

Lock up Burke and the Mayor for perjury

Anonymous said...

This is news? The Star's own Lynne Horsely reported this 1 month ago:
http://www.kansascity.com/news/politics-government/article157330409.html
OK, Ok she never called the Hyatt to check or get a comment but it's tough they still use those goose neck phones from "The Front Page" over there and absolutely no long distance is allowed-and its tough to copy a press release to use as an article when using a selectric 2.

Has Vockrodt been placed in the witness relocation program?

Anonymous said...

When did Mike Burke develop anything, much less a $400 Million Hotel. He's an influence peddler!!! Lock him up!

Retro ROCKER said...

Soon the financing will dry up for many projects The information is out there and the smart money .Will hold off on large projects. Unless there is a little tiff.money evolved. Where is the Bonds.THE Government Bonds