Construction Update

We are pleased to be able to report that the project has kicked off smoothly. The demolition of the existing building is almost complete and the final building permit for the new hotel building is in hand. Foundation work is anticipated to start the week of June 16th. Hotel opening date is July 30, 2009. No issues which would impact the budget or the schedule have cropped up so far.

Construction documents are 90% complete. In order to fit the hotel better into its New England context, we have received approval from Hilton for a traditional style clapboard exterior. We believe that this cost-effective approach will enhance the curb-appeal of the completed project and will help make this hotel an appropriate addition to the commercial fabric of the City of Nashua, New Hampshire.