Originally Posted by
Raffles
If you don't know this site, it is hard to explain a) what a complete dump the shopping centre inside this building used to be before it closed and b) what a complete dump the street that it is on still is
It feels like the sort of project that got financed in the last few months before the 2007 banking crisis, and post covid its hard to imagine anyone funding this deal today. I can't see a scenario under which this hotel isn't hastily rebadged as a Crowne Plaza within 3-4 years and its rates slashed to 33% of the ones it will try to open with.