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Pritzker, Starwood Grow Restless; Hotel Plans May Bite the Dust

BOSTON-Nearly 2,000 new rooms might go by the boards if developers don't get thumbs up.

By John Salustri | Updated on October 19, 2000

BOSTON-A hot lodging market may cool fast in coming weeks. Three hotel projects have been thrown into serious question, projects that would deliver nearly 2,000 new rooms to the market. Two of the hotels are currently being planned by the Pritzkers of Hyatt Development Corp. at Fan Pier. Geoffrey Baeke of PriceWaterhouseCoopers tells GlobeSt.com that “unless they get approvals by mid-November from the EPA, there are questions if they will move forward.” Baeke explains that the Pritzkers are planning “a Grand Hyatt of 600 rooms and a Park Hyatt of 200.”

Another 1,100 rooms hang in the balance if Starwood Hotels & Resorts Worldwide fails to get financing for its proposed Sheraton by the South Boston convention center. According to Baeke, “Starwood was awarded the contract to develop the 1,100 rooms, and they were given rights to move forward as long as the financing was in place. But financing was not in place, so an extension was granted until the end of September. They got another extension, and most recently, there have been rumblings at the Massachusetts Convention Center Authority that Starwood is out of funding and is pulling out.”

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