Another 1,100 rooms hang in the balance if Starwood Hotels &Resorts Worldwide fails to get financing for its proposed Sheratonby the South Boston convention center. According to Baeke,"Starwood was awarded the contract to develop the 1,100 rooms, andthey were given rights to move forward as long as the financing wasin place. But financing was not in place, so an extension wasgranted until the end of September. They got another extension, andmost recently, there have been rumblings at the MassachusettsConvention Center Authority that Starwood is out of funding and ispulling out."

If the projects do in fact fall through, says the PWC manager,it will not only be a blow to the local market as a whole, butthere will also be "real questions about the ability of conventioncenter to book."

Neither the Pritzkers nor representatives of Starwood wereavailable for comment.

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John Salustri

John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.