Wednesday, January 14, 2009

Want to Buy a Hotel Cheap?

Posted By on Wed, Jan 14, 2009 at 10:26 AM

St_LouisRenaissanceGrandExterior_thumb_200x288.jpg
The St. Louis Business Journal is reporting that the Renaissance Grand Hotel & Suites will be auctioned February 2 at the St. Louis Civil Court. 

The downtown convention-center hotel opened in 2003 and has never made any money. For some reason, the tourists expected to fill the building just never flocked to St. Louis. Hmm.

The hotel carries $98-million in debt. I'll start the bidding at $1.

 

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