Alexander Fulton Hotel
Alexander Fulton hotel on Alexandria's council agenda
The City Council plans to discuss the status of the Alexander Fulton Hotel when it meets today and make a recommendation whether or not to close the hotel. Full article.
Alexander Fulton Hotel – new deal a possibility
Mayor Jacques Roy: “…city officials are in competitive discussions with multiple firms about the future direction of the downtown hotels initiative.” The city has to decide whether to terminate the agreement with HIP if the group can't finalize financing. Full article.
Hospitality Initiatives Partnership signs agreements with Bentley owner, city
Hospitality Initiatives Partnership signed an agreement on Tuesday to purchase the historic Hotel Bentley in downtown Alexandria. The sale calls for HIP to purchase the Bentley, the Alexander Fulton Hotel and manage the Alexandria Riverfront Center. HIP principal Paul Cooper signed a cooperative endeavor and development agreement with the city for the downtown hotels initiative, which will invest nearly $50 million into downtown Alexandria. Full Article.
Alexandria downtown hotel project depends on private firm investment
The city of Alexandria's partner in the downtown hotels initiative will be required to spend about $36 million on the closed Hotel Bentley and the bankrupt Alexander Fulton Hotel. While city officials still were negotiating with HIP officials late Wednesday, Mayor Jacques Roy said he was told there were no "fatal flaws" or "deal killers" in the term sheet and that it would be signed, likely by the end of the week. Full Article.
Court sides with Alexandria on bankrupt Alexander Fulton Hotel
Alexandria got a favorable bankruptcy ruling regarding the Alexander Fulton Hotel. If the ruling survives potential appeals, it allows the city to proceed with its downtown hotels agreement with Hospitality Initiatives Partnership. Full Article.
