Letter: Will the Bear devour Grand Hotel project?
Will the Bear devour Grand Hotel project?
To the editor:
Has it occurred to anyone else that The Mahidas are financing the vast expansion of their local hotel chain on debt money borrowed at low interest rates during a period of regional economic prosperity?
This subject of debt is especially topical right now on the lower Manhattan street where the Trinity Church cemetery beckons at one end and East River at the other. The Bear has been making his cyclical appearance, perhaps foretelling a slowdown in U.S. economic activity.
What happens to hotel chains during such economic cycles, especially in areas like Berkshire County which rely heavily on tourist and second-homeowner dollars?
What does a Wall Street bust signify for new construction in Berkshire County, and to those who are over-leveraged?
How much of The Mahidas proposed Grand Hotel in Great Barrington is being financed by debt, and do The Mahidas have a Plan B to manage these obligations should the regional economy get stuck in the tank for years?
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