Business Services Industry
Wichita, Kan.-Based Hotel Chain Dumps Plan for Boston Development.
Knight Ridder/Tribune Business News, October, 1998 by Kindleberger, Richard
Knight Ridder/Tribune Business News
Oct. 22--A national hotel chain has shelved plans for a 175-suite hotel at Tudor Wharf in Charlestown after the project was buffeted by both community criticism and upheaval in financial markets.
James E. Lydon of Daylor Consulting Group, who was working on the project, said an executive of Wichita-based Summerfield Hotel Corp. told him 10 days ago that "because of the plunge in stock prices, they wanted to put the project on hold."
In addition, concerns about the project's parking plan and design had delayed its approval and a start to construction, projected to cost $32 million. Tom Cunha, development chairman of the Charlestown Community Council, said he was told by a representative of the developer that...
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