The Real Deal Miami

Broward will return deposit for failed convention center hotel

January 06, 2010 03:04PM

FaulknerUSA, the development firm once slated to build a 1,000-room
Hilton Hotel next to the Broward County Convention Center in Fort Lauderdale, will
get roughly $2 million back from the county after threatening to
sue for two years’ worth of project costs. The county cut ties with
Faulkner and Hilton Hotels last month after years of delays and a
failed attempt by Hilton to replace Faulkner as its development
partner. Faulkner, which has recently been plagued by a variety of
legal and financial woes, said it had already spent more than $3
million on the convention hotel in the past two years. Broward
Commissioners agreed to reimburse Faulkner for its deposit plus
interest. [Sun Sentinel]