BALTIMORE-City officials will gather at City Hall today (Thursday) to discuss how to get the cash-strapped Hilton Baltimore back on strong financial footing.
Baltimore City Councilman Carol Stokes called for the hearing after the Baltimore Business Journal reported recently the city-owned hotel will require $1 million in revenues from the city's hotel tax to cover its current debt payments. Normally, the hotel tax is put into the city's general fund.
The Hilton Baltimore was financed with $305 million in bonds, backed by hotel revenue and debt service reserves. Among those invited to provide input into the hotel's finances include officials with the Baltimore Hotel Corp., Baltimore Development Corp. and city finance department. See story in the Baltimore Business Journal.
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