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

Podcast: Testing for Emotional Intelligence with John Hersey

Contributed Blogs
Friday, September 19, 2014
ivbU3sIXBY TOM COX | OB BLOGGER

How can you tell if you, a peer, a subordinate or a job candidate has the emotional intelligence needed to do well?


Read more...

Innovation: a critique

News
Wednesday, October 08, 2014
1008 innovation thumbBY LINDA BAKER | OB EDITOR

A Design Week panel discussion raises questions about how innovative we really are.


Read more...

Shipping News

September 2014
Tuesday, August 26, 2014
BY JENNIFER MARGULIS

In 2012 The Dalles, a city of some 14,400 located 75 miles east of Portland and often seen as the poor cousin to adjacent Hood River, completed a massive project to revitalize its dock.


Read more...

Tight and Loose

September 2014
Wednesday, August 27, 2014
BY JENNIFER MARGULIS

As schools implement more rigorous academic standards, holistic and flexible approaches to K-12 education flourish.


Read more...

Gone Fishing

October 2014
Thursday, September 25, 2014
BY LORI TOBIAS

Business has been good to Laura Anderson, leading some to suggest she must be awfully lucky to find such success in a business notorious for failure. But luck’s had little to do with it.


Read more...

Fork & Bottle

October 2014
Thursday, September 25, 2014

National media can’t get enough of Oregon’s pinot noir, artisan-food purveyors and lively, independent film scene.


Read more...

October surprise

News
Sunday, October 12, 2014
roundup-logo-thumb-14BY LINDA BAKER

Cylvia Hayes, tabloid vs. watchdog journalism and the looming threat of a Cascadia earthquake.


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