Friday, May 25, 2012

Hampton Inn Bankruptcy

A blog reader pointed out a legal notice on page 3D of the May 24 Southern, announcing that Reed Lodging LLC was filing a complaint for foreclosure against CSP Carbondale Hotel Partners on the property identified as Lot 5 Reed Station Crossing, better known as the Hampton Inn.

I've been wondering about the number of hotels going up in the Reed Station Crossing area.  Three have gone up in the last 6 years, while the population of Carbondale has stayed roughly the same.  Granted, people living in the community aren't the ones using the hotels, but still, I would expect a growth in the population correlating with the number of hotels built.  I have heard comments for several years that one reason Carbondale could not attract larger sports events was the lack of hotel rooms for attendees, but not that they are there, it doesn't appear they are getting filled as tax revenue generated by the hotels has declined approximately 10% over the last fiscal year, compared to 2011.

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