Starwood's Ability to Develop Headquarters Hotel Unclear

BOSTON-After meeting last week with representatives of the Massachusetts Convention Center Authority, it is still unclear what Starwood Hotels & Resorts Worldwide Inc.’s plans are for the headquarters hotel here that would abut the convention center being developed here in south Boston on the waterfront. The hotel is considered crucial to the center’s success.

Starwood recently told Wall Street analysts that it was slowing, delaying or canceling all projects above $3 million but it did not specify what would happen to which project–including the hotel here. Unconfirmed reports state that Starwood asked the MCCA for a year, possibly two, delay in constructing the $264-million project, for which the company has yet to find financing. Part of Starwood’s agreement with the MCCA is that the hotel would open in conjunction with the convention center.