The 757-room hotel’s revenue fell to $61.8 million in 2014, down from $63.9 the prior year. Expenses increased by $1.4 million to $67.4 million, according to an audit released Wednesday by CliftonLarsonAllen LLP.
The Hilton’s performance last year was worse than in 2013 when the kept its finances somewhat stable. The Hilton saw a $2.9 million deficit in 2013, but it grew revenue by nearly $9 million and its spending only increased by about $584,000.
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8 comments:
So why does a city own a Hilton hotel?
What function of government does that serve?
I agree with 8:30. WTH does gubmint need to be in the hotel business?? Joe....any clue on this one?
It was built as a whorehouse for Democrats. And, it was built with taxpayers money.
Baltimore City has a white elephant on its hands, a $301 million, deep-in-debt convention hotel it owns because of the folly of its former mayor, Martin O’Malley.
Back when the city was desperately trying to boost its sagging convention business, then-Mayor O’Malley and his economic development team insisted the answer was a convention hotel directly linked to the meeting facility.
He was right, but his method for getting the Hilton Baltimore built has put his City Hall successors in a frightful financial bind that will only worsen with time.
Can't blame that one on mayor Ireton
It's not a white elephant and it's actually a good idea. Think about this? What is running the city? Now what do you think they put in place to run a multimillion dollar Hotel? Nuf Said!!
Everything the government does, they do worse than the private sector.
Our "leaders" paid the Hilton family millions to take this elephant off their hands.
Now, our "leaders" are telling us there's ANOTHER bad idea we have to pay for....
And YOU keep re-electing them!!
They continue to be amazed.
Forrest Gump could do a better job.
I understand "your guy" is on it, though, and will be working diligently as soon as him and his family return from South Korea where he's looking for "opportunities".
Keep cheering!!
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