KNOWN HISTORY OF THE HILTON GARDEN INN

Despite the opposition of many citizens it opened in 2005 built on prime river property for 23.6 million. Suffolk put up half the money and 5 million of that paid for the ten-acre park and 28 slip Marina. The hotel contained 150 rooms, 14,000 square feet of conference rooms. Those persons familiar with the area warned of tricky soil conditions and someone suffered financially when the seawall failed to behave and had to be repaired. It proved that opposition could be correct.

In 2008 Landmark Hotel Group bought the hotel and Conference Center for $14.3 million. It seems someone absorbed a loss when you see two numbers, cost to build hotel and price received. Within months of the purchase the bottom fell out of the need for hotels and a dismal occupancy rate followed. There is some question about the Marina occupancy, are they legitimate or just there to make the marina look busy? The city still owns the land and picks up ten grand for the lease and $134,000
from the down-sliding property taxes as hotel assessment dips. I have never seen a lowering of my  assessment. The hotel felt a loss of revenue when the Franklin paper mill disappeared and slicing up JefCom won’t help. Remember the schmaltz at the time the city was pushing public/private investment and how the hotel was to be the Gateway to Historic Suffolk. With a current occupancy rate still under fifty percent it could get worse until a new Congress redesigns the national budget.