Eden Roc is particularly pissed that after investing $300 million in the hotel, including $240 million for a massive makeover, Renaissance filled up the hotel with discount bookings, causing the bottom line to fall far short of the $30-35 million projected profits.
So far, Marriott has not released any statement or comment on the lawsuit but we bet that will be forthcoming. On the bright side, at least Eden Roc didn't send a bunch of armed guards and off-duty police officers to the hotel in the middle of the night to kick out the Renaissance management team?
Indeed nothing has changed on the hotel's website. It's still a Renaissance and it's still offering 20 percent off stays booked by May 1. But it can't be all that bad.
Rooms are sold out next weekend but this weekend still had rooms at $359 a night. In two weeks, rooms are going for a steep $429 a night. Yet just to be safe, we'll say this story is to be continued....