In case you missed it in today’s Globe:
One of the world’s premier hotel operators, Regent Hotels & Resorts, is abruptly out of the $300 million luxury Battery Wharf development on Boston’s waterfront just before the hotel’s scheduled opening this summer.
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Regent’s departure not only leaves Battery Wharf without a signature operator for its 150-room hotel, but the developers have also lost their provider of top-shelf concierge services to the buyers of the multi-million-dollar condominium units in the building. Without Regent, Battery Wharf may have trouble selling its remaining units, priced from $1 million to $4 million.
Oy. Not a good development, at all.
Hotel – condo developments are all the rage, these days. The InterContinental did it, the Mandarin Oriental is doing it … Battery Wharf will being doing it. Too bad Howard Johnson’s isn’t still in business, it would make the perfect partner!
(These hotel – condo partnerships are not the same thing as a “condo-hotel” or “condotel”, that you hear about. In those situations, an owner has a deed to a property that he/she can rent out, using the services of a hotel management company, and often-times, the owner is only allowed to stay in his/her property for a set number of days per year.)
Hotel operator leaves luxury waterfront project – By Kimberly Blanton, The Boston Globe