Trenton OKs $295K to Keep Hotel Open
Trenton is spending $295,000 to keep the state capital’s only hotel from closing its doors.
The city council approved the expenditure Thursday night.
The city-owned hotel has struggled for years to fill rooms and has become a money pit for Trenton. It’s now a Marriott but that hotel chain decided to pull out the end of June. Last month a development board voted to pursue a new contract with Wyndham Hotels.
Trenton is spending $1.4 million a year to pay off the costs of building the hotel a decade ago. And The Times of Trenton (http://bit.ly/XZgYgJ ) reports the city will also likely be on the hook for millions of dollars in renovations.
The current managers are reserving the right to request even more cash if reserves dip too low.
Copyright 2013 The Associated Press.