Home Must Reads Portland convention center hotel opponents cite The Nines

Portland convention center hotel opponents cite The Nines

| Print |  Email
Must Reads
Monday, March 26, 2012

As Portland leaders try to muster support for a large convention center hotel, opponents cite The Nines as an example of what could go wrong.

The Nines, a 331-room luxury hotel in downtown Portland, funded in part with $16.9 million in loans from the city, has made few friends among its competitors since it opened in 2008.When the economy tanked, The Nines aggressively discounted, offering its opulent rooms for $99 a night. Competitors had little choice but to offer steep discounts of their own, starting a downward spiral that slashed their revenues by 20 to 40 percent.

When times got tight, The Nines once again turned to the city. In March 2009, the Portland Development Commission agreed to requests from The Nines' developer, Sage Hospitality Resources, to temporarily stop making loan payments.

Sage hasn't paid the city a dime since, even as the economy and hotel business has strengthened.

Read more at OregonLive.

{biztweet}portland nines{/biztweet}

 

Comments   

 
John Larsen
0 #1 outrageous use of public moneyJohn Larsen 2012-03-26 20:25:16
please identify the public officials who are allowing this to happen. they need to be fired or voted out of office.
Quote | Report to administrator
 

More Articles

The Scott Kveton affair

News
Wednesday, July 09, 2014
ScottKvetonBY LINDA BAKER | OB EDITOR

Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

Podcast: Interview with Pete Friedes

Contributed Blogs
Wednesday, August 27, 2014

082714-thumb friedesbookTom Cox interviews Pete Friedes, author of "The 2R Manager," about becoming a Best Boss.


Read more...

Oversight? Or gaming the system?

News
Monday, July 14, 2014
AmazonBY VIVIAN MCINERNY | OB BLOGGER

Some people think Amazon’s winking eye logo is starting to look like a hoodwink.


Read more...

OB Video: Dress for Success

News
Wednesday, July 02, 2014
DFSOBY JESSICA RIDGWAY | OB WEB EDITOR

Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.


Read more...

Is this employee right?

Contributed Blogs
Wednesday, August 13, 2014
081314 thumb employeefeelingsBY TOM COX | OB BLOGGER

When I say, “Your Employee is Always Right,” I do not mean “right about the facts,” but rather “right about how they feel” and “right about how they want to be led.”


Read more...

Register for 100 Best Companies survey

News
Wednesday, August 20, 2014
OBM-100-best-logo-2015 150pxwBy Kim Moore | OB Editor

The 2015 survey launched this week. It is open to for-profit private and public companies that have at least 15 full- or part-time employees in Oregon.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS