The Real Deal Miami

Hotel construction plans behind schedule

December 03, 2008 02:23PM

The recession has set back plans for a high-rise hotel next to Broward
County’s convention center by at least a year. County commissioners
agreed yesterday to reimburse the developers — led by Hilton Hotels —
for $1.1 million in expenses from the $3 million deposit the developers
made when the deal was signed. The developers said they are now
unlikely to begin looking for financing for the $400 million project
for another year.