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We Can Stop Stalking the Tri-Pack For a While

We've had our eye on the Manhattan Tri-Pack hotel for a while now, waiting rather impatiently for the budget hotel threesome — a Hampton Inn, a Candlewood Suites and a Holiday Express in a single structure — to open. Yes, we know it's just three budget hotel brands we've been to before — but the building is so cool! And it's another hotel in New York — no, three other hotels in New York.

But it's delayed. And an anonymous tipster answered our call for hot gossip yesterday and sent us this:

The real story is that [the developer] has a buyer trying to close who is unable to secure the necessary financing. He has financial pressures and can't put any more money into the project right now - especially as opening the hotel will require working capital to carry for several months. In this market he can't expect to be profitable right away as if it were 2007. He is working to help the buyer get the financing but it is very difficult in this market, especially for such a large transaction (same buyer is buying all three hotels).

Another victim of the economy. Sigh. Our advice: don't make a rezzie at these hotels just yet — heck, right now you can score a room at the Cooper Square or the SoHo Grand for under $200 on Quikbook right now. And those? Yeah, those are open.