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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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