Business Services Industry
Hartford, Conn., Mayor Selects Plan for Hilton.
Knight Ridder/Tribune Business News, January, 2004
By Mark Pazniokas, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jan. 7--Mayor Eddie A. Perez designated the Waterford Group as the preferred developer Tuesday to purchase and renovate the city's largest hotel, the 390-room Hartford Hilton.
A screening committee ranked Waterford's $28.5 million plan to buy and overhaul the aging downtown hotel at 315 Trumbull St. as the best proposal submitted by five competing developers.
Under the fast-track timetable set by the city, Perez and Waterford's chairman, Len Wolman, have until Jan. 17 to finalize the terms of a purchase and sales agreement.
Waterford's takeover of the troubled hotel under conditions set by the mayor would be a political coup for Perez in the...
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