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Downtown Comfort Suites seeks bankruptcy protection

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The Comfort Suites City Centre on the southwestern fringe of downtown has filed for Chapter 11 bankruptcy court protection, the latest sign of continued financial strains in the lodging industry.

Central Indiana hotels received a huge boost from the Super Bowl but still are reeling from the financial crisis. A surge in hotel construction led to sharp room discounting after the economy tanked in 2008.

The owner of the Comfort Suites City Centre, Warsaw Hotel Partners LLC, is an affiliate of Dora Brothers Hospitality Corp. in Fishers. Warsaw’s bankruptcy petition, filed Feb. 17, lists assets of $1 million to $10 million and liabilities of $10 million to $50 million. The largest creditor is New York-based German American Capital Corp., which is owed $12 million.

Comfort Suites City Centre, 515 S. West St., continues to operate, as is customary for hotels seeking to reorganize their debts through Chapter 11.
 

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  • Taxpayers Potentially On The Hook For City Way If It Also Fails
    Well now we know why no lending institutions were interested in loaning money for another speculative investment just a few blocks away. If the City Way project fails it wont be on the back of banks, it will be on the the taxpayer who was forced into the real estate development business. Super Bowls over. Time for a reality check.

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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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