YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The St. Louis Business Journal reports an East Coast buyer has penned a deal to purchase the 817-room Renaissance St. Louis Grand Hotel downtown for $26 million.
The buyer, 800 Washington LLC, formed to purchase the hotel from bondholders, is planning to renovate all the hotel's guest rooms and lobby.
The Renaissance Grand hotel posted an operating loss of $871,236 last year, wider than its loss of $634,749 in 2011. Revenue fell 7 percent in 2012, as its average nightly rate fell even though occupancy rose to nearly 57 percent last year, from 49 percent in 2011, the journal reports.
Read more from the St. Louis Business Journal.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
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