News
Bye, Bye Conrad?
August 1, 2011
| No, not Birdie. We're talking about the Conrad Hotel, just off the Mag Mile. After flopping DiamondRock Hospitality's performance expcations, the hotel may soon be rebranded, we learned on DRH's quarterly earnings call. |
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| Execs say the company is under negotiations with Hilton and other hospitality hard hitters about bringing the hotel and its management back up to snuff. DRH inked an agreement with Hilton on May 17 allowing them to quash the branding for a $1M termination fee(before Dec 31) as partial repayment for key money Hilton laid out when it entered the initial management agreement. Or, maybe they'll let Hilton stay on and rebrand the hotel after another family member (our vote is for Paris). |
