Wisconsin State Journal, 07.24.09
Despite several flashy Downtown hotel proposals, the commercial credit crunch has withered what a year ago was a bountiful crop of proposed Madison area hotels.
Three new hotels are opening this summer, but four other projects have been postponed or scrapped due mostly to financing problems.
But Madison hotel proposals seem to keep coming despite the recession. Last week, Apex Enterprises of Madison, an owner and manager of local rental property, proposed a $100 million, 14-story, 300-room hotel along West Wilson Street. The hotel would serve the Monona Terrace Convention Center.
Despite several flashy Downtown hotel proposals, the commercial credit crunch has withered what a year ago was a bountiful crop of proposed Madison area hotels.
Three new hotels are opening this summer, but four other projects have been postponed or scrapped due mostly to financing problems.
But Madison hotel proposals seem to keep coming despite the recession. Last week, Apex Enterprises of Madison, an owner and manager of local rental property, proposed a $100 million, 14-story, 300-room hotel along West Wilson Street. The hotel would serve the Monona Terrace Convention Center.