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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. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

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  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

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