Posted Sep 9, 2011, 4:36 PM
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hähnchenbrüstfiletstüc
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Join Date: Nov 2001
Location: Vancouver
Posts: 33,694
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One difference here is that there's already a hotel on this site that was presumably profitable for decades (no doubt they let it go downhill a bit once they decided to replace it). It's not quite the same as building a new hotel, even if the brand changes.
I don't know if it's uncommon for pension funds to finance hotels but they certainly finance a lot of other real estate ventures.
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