NEW YORK— Despite the difficult hotel climate, Embassy Suites is still forging ahead with development plans, particularly focusing on downtown, mixed-use projects in Boston, Seattle, and San Francisco. “We’re working on deals in all three cities, but none of them are under construction yet,” said Mark Snyder, svp/brand management for Embassy Suites. He added that the Sept. 11 terrorist attacks have not changed the brand’s growth strategy, even with the Embassy Suites Hotel New York in Battery Park City still closed due to its proximity to the World Trade Center disaster. In fact, he suggested that the current lending environment may be most conducive to mixed-use projects. “The mixed-use development platform is more attractive to investors because it maximizes the real estate and offers a diverse investment, which is appealing to lenders,” Snyder said. Rudy Tauscher, general manager/Trump International Hotel & Tower, agreed noting that having more than half of Trump’s New York City mixed-used project permanently filled with high-paying residents, who also fund the costs for the private health club, help offset the losses of lower-than-expected hotel occupancies during turbulent economies. Tauscher added that the Trump Organization may be looking to expand its mixed-use portfolio beyond its sole Central Park West development, specifically in high-profile locations in Florida and Chicago. –Diana M. Rodriguez
