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By Jamie Smith Hopkins and Lorraine Mirabella, The Baltimore Sun | June 30, 2013
All options are on the table, including a sale, as Baltimore officials review ways to improve the finances of the city's money-losing convention center hotel — and brace for the likelihood of tapping the city's general fund to cover debt payments next year. The city hired an investment advisory firm to look into all aspects of the 757-room Hilton Baltimore, from operations to the debt structure, said Harry E. Black, director of the city's Department of Finance. The hotel itself is performing better than most of the city's private hotels, based on occupancy and room rates.
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HEALTH
September 11, 2014
A selection of events, resources and medical institutions. Events Free prostate screening 4-6 p.m. Thursday at the Good Health Center at MedStar Good Samaritan Hospital, 5601 Loch Raven Blvd., Baltimore. Registration is required. To make an appointment, call 443-444-4100. ZERO Prostate Cancer Run/Walk 10K run, 5K run/walk, 1 mile fun walk, Kids Superhero Dash for Dad and virtual Snooze for Dudes program. Funds raised are split between local community and national efforts to fund research, testing, and education for men and their families.
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BUSINESS
By Edward Gunts, The Baltimore Sun | June 20, 2011
The city-owned Hilton Baltimore Convention Center Hotel performed better in its second full year of operation than in its first, but officials warned that the slow economic recovery means several more years could pass before it turns a profit. In terms of cash flow, the 757-room hotel on Pratt Street ended 2010 "slightly above break-even," with $9.7 million on hand at the end of the year, compared with $8.4 million at the beginning, according to a financial statement provided this month to the city's Board of Estimates.
BUSINESS
By Luke Broadwater, The Baltimore Sun | June 11, 2014
The city-owned Hilton Baltimore convention center hotel lost $2.9 million last year — the best performance in the taxpayer-financed project's history. City officials pointed to the hotel's performance as a sign of progress Wednesday, noting revenues there increased by nearly $9 million from 2012. "We're making progress. We're doing better than we've done before," said Mayor Stephanie Rawlings-Blake after the release of the hotel's annual audit. "To me, that's a good sign. " Last year, city officials said they had ruled out selling the money-losing project and hoped to turn a profit within a decade.
NEWS
By Steve Kilar, The Baltimore Sun | May 23, 2012
The city-owned Hilton Baltimore lost nearly $11.5 million in 2011 — about $400,000 more than it lost the previous year, according to a recently released audit. In addition to losing money last year, the hotel dipped into its reserves in February to make payments on its debt service. The Baltimore Hotel Corp., created in 2005 to oversee the hotel's operations, withdrew nearly $4 million from its $9 million operating reserve account to make a semi-annual bond payment in March. The Hilton was coming off several slow months and did not have enough money on hand to pay the full amount owed, the audit said.
NEWS
By Lorraine Mirabella and Lorraine Mirabella,Sun Reporter | July 19, 2008
With the opening of Baltimore's $301 million convention headquarters hotel a month away, city convention officials said yesterday they have booked a record number of convention room nights for future years. The Baltimore Area Convention and Visitors Association said it booked 451,608 room nights in city hotels through 2017 during the fiscal year that ended June 30, an 18 percent jump over last year's bookings. The number beat the goal of 400,000 room nights - an achievement BACVA officials credited to the new Hilton Baltimore, a city-owned, 757-room convention headquarters hotel on West Pratt Street set to open next month.
NEWS
June 30, 2013
Of course the city-owned Hilton Baltimore is in financial trouble, but it may not even be its fault ("Hilton again loses millions," June 27). Who wants to come to Baltimore with the crime rate and killings running wild, along with the cost of gasoline, various and sundry taxes and the city's take it or leave it attitude? Until this changes, look for more businesses failing or leaving. Promises from the mayor are just words in the wind. F. Cordell
NEWS
July 27, 2008
It's a promising start: 451,608 room nights in Baltimore hotels booked through 2017, business attributed in large part to that shiny new convention center hotel at the corner of Pratt and Paca streets. That's the assessment of the Baltimore Area Convention and Visitors Association, which booked the hotel stays during a 12-month period that ended June 30. They should improve Baltimore's bottom line. Not only do these room nights translate into convention center business and companion stays at other area hotels, but robust bookings at the 757-room Hilton Baltimore should make good on city development officials' promise that the city-owned hotel could pay for itself.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | July 5, 2012
A new owner's planned conversion of the Tremont Plaza Hotel in downtown Baltimore to an Embassy Suites, a Hilton Worldwide brand, would threaten the city-owned Hilton Baltimore hotel as it struggles to reach stability following the recession, city development officials have told Hilton executives. The Baltimore Hotel Corp., which owns and developed the 757-room Hilton on West Pratt Street, said the lodging giant's plans to offer a franchise for a Hilton-branded hotel to the new Tremont owner violates the spirit of a hotel operating agreement between Hilton and the city.
NEWS
July 2, 2013
I read with interest the recent article which describes the financial woes of the Hilton Baltimore ("Hilton again loses millions," June 27). It seems that while the hotel is generating enough income to cover operating expenses, it can't make its debt payments. So it's not enough that this monstrosity of a building is a hideously ugly example of Soviet-style "architecture. " It's not enough that it blocks the view of the city skyline that we used to enjoy at Camden Yards. Now, the only way for it to survive is for the city to dip into the general fund so that the hotel can continue to operate at a loss on the taxpayers' dime.
BUSINESS
By Natalie Sherman, The Baltimore Sun | March 24, 2014
The city-owned Hilton Baltimore spent nearly all of the $2.8 million it generated in hotel occupancy taxes — money the city gave it last year to help the struggling convention center hotel make its debt payments, officials said. The hotel did return $72,000 of the tax money to city coffers. Baltimore City Finance Director Harry E. Black called it a turning point for the hotel, which at one point last year looked as if it might need even more help. The West Pratt Street hotel has lost more than $50 million since opening in 2008 as it struggled to make payments on the $301 million in tax-exempt municipal bonds issued to finance its construction.
NEWS
By Luke Broadwater, The Baltimore Sun | November 1, 2013
City officials said Thursday that they've ruled out selling the money-losing Hilton Baltimore convention center hotel, but hope to turn a profit on the $300 million project within a decade. The city could lose $60 million to $90 million if it sold the hotel now, officials said. "We would do it at a very significant financial loss to the city," finance director Harry E. Black said of a potential sale. "We don't believe we're at that point yet. We believe the situation is manageable.
NEWS
July 2, 2013
I read with interest the recent article which describes the financial woes of the Hilton Baltimore ("Hilton again loses millions," June 27). It seems that while the hotel is generating enough income to cover operating expenses, it can't make its debt payments. So it's not enough that this monstrosity of a building is a hideously ugly example of Soviet-style "architecture. " It's not enough that it blocks the view of the city skyline that we used to enjoy at Camden Yards. Now, the only way for it to survive is for the city to dip into the general fund so that the hotel can continue to operate at a loss on the taxpayers' dime.
NEWS
June 30, 2013
Of course the city-owned Hilton Baltimore is in financial trouble, but it may not even be its fault ("Hilton again loses millions," June 27). Who wants to come to Baltimore with the crime rate and killings running wild, along with the cost of gasoline, various and sundry taxes and the city's take it or leave it attitude? Until this changes, look for more businesses failing or leaving. Promises from the mayor are just words in the wind. F. Cordell
BUSINESS
By Jamie Smith Hopkins and Lorraine Mirabella, The Baltimore Sun | June 30, 2013
All options are on the table, including a sale, as Baltimore officials review ways to improve the finances of the city's money-losing convention center hotel — and brace for the likelihood of tapping the city's general fund to cover debt payments next year. The city hired an investment advisory firm to look into all aspects of the 757-room Hilton Baltimore, from operations to the debt structure, said Harry E. Black, director of the city's Department of Finance. The hotel itself is performing better than most of the city's private hotels, based on occupancy and room rates.
BUSINESS
By Luke Broadwater, The Baltimore Sun | February 27, 2013
The city will be forced to dip into its general fund for $1 million to help the city-owned Hilton Baltimore make debt payments this year, city officials said Wednesday. Harry E. Black, Baltimore's director of finance, said the hotel needs the money to make payments in March and September. The Hilton is expected to contribute $2.8 million in taxes this year from the hotel occupancy tax to the general fund, so the hotel is drawing from money it created, he said. "I expect it's going to be an ongoing thing for a period of time," Black said.
BUSINESS
By Steve Kilar and The Baltimore Sun | October 15, 2012
The 2012 Governor's Housing Conference, " an educational opportunity for leaders in the housing and community development field to come together and celebrate Maryland," is being held Tuesday at the Hilton Baltimore hotel. The theme of this year's conference is "Restoring Communities Across Maryland. " The day-long event will focus on "the significant role a healthy housing market plays in generating jobs, stabilizing neighborhoods and helping families," according to the Maryland Department of Housing and Community Development, one of the conference's organizers.
BUSINESS
September 7, 2008
Advertising * gkv announced the appointments of Meredith Gilbert and Haley Ulloa as assistant account executives for the Baltimore-based marketing firm and named Johnny Vo as associate manager for GKV REACH, the agency's social marketing division. Finance * Wealth Advocacy Partners appointed Stephanie I. Dignan as a financial representative in the Sparks-based insurance and estate planning services firm. She had been with Metropolitan Life and is active with National Association of Female Executives and is a certified financial planner.
BUSINESS
By Steve Kilar and The Baltimore Sun | October 15, 2012
The 2012 Governor's Housing Conference, " an educational opportunity for leaders in the housing and community development field to come together and celebrate Maryland," is being held Tuesday at the Hilton Baltimore hotel. The theme of this year's conference is "Restoring Communities Across Maryland. " The day-long event will focus on "the significant role a healthy housing market plays in generating jobs, stabilizing neighborhoods and helping families," according to the Maryland Department of Housing and Community Development, one of the conference's organizers.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 23, 2012
City convention officials booked the third-highest number of convention room nights ever over the past fiscal year, Visit Baltimore, the city's tourism and convention bureau, announced Thursday. The room nights are reserved for future years. Visit Baltimore booked 475,554 convention room nights in city hotels as far out as 2032 during the fiscal year that ended June 30. Two-thirds of those bookings will be for events held in 2016 or later. Though the number of bookings edged up just 4 percent over the previous year's figure — by 18,000 bookings — it represented the third-highest number of future reservations in a single year, behind 522,000 room nights reserved in fiscal 2009 and 495,000 in fiscal 2010.
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