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: 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...

Two sides of the coin

Contributed Blogs
Monday, August 25, 2014
0825 thumb moneyBY JASON NORRIS | OB GUEST BLOGGER

Ferguson Wellman’s investment views on the economy and capital markets.


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...

Molecular Movies

September 2014
Wednesday, August 27, 2014
BY LINDA BAKER

Dr. Chong Fang isn’t God. But the assistant professor of chemistry at Oregon State University is getting closer to figuring out how he put everything together. 


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...

Launch

September 2014
Tuesday, August 26, 2014
BY JESSICA RIDGWAY

September's Launch article features Orchid Health, BuddyUp and Inter-Europe Consulting.


Read more...

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