SYRACUSE, N.Y. -- The downtown Renaissance Syracuse Hotel, a 20-story landmark that was reborn in 2003 following a $19 million renovation, has fallen on hard times. The 279-room hotel is under the control of a court-appointed receiver while the hotel's mortgage lender pursues foreclosure.
The recession, and a resulting drop in room occupancy, are largely to blame, according to Hypo Real Estate Capital Corp., a German-owned lender that holds the $28 million mortgage on the hotel.
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http://www.syracuse.com/news/index.ssf/2009/08/syracuse_renaissance_hotel_fac.html
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