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Hoteliers Hint Of Lightning's Role In Hotel

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By JACOB SCHNEIDER

The Tampa Tribune

Published: July 23, 2008

TAMPA - Tuesday morning's hoteliers forum was abuzz with rumors about what the new owners of the Tampa Bay Lightning might do with the valuable real estate surrounding the St. Pete Times Forum.

Local hotel executives mulled the possibility that the Lightning owners could build one or more hotels on the property after tourism official Paul Catoe revealed possible plans at Tuesday's annual Trends and Forecasting Forum of the Hillsborough County Hotel and Motel Association. A Lightning spokesman said the team's owners were preparing a statement Tuesday evening.

The value of the team is greatly enhanced by the value of the real estate the franchise owns, said hospitality investment consultant Lou Plasencia.

He added he could envision several classes of hotels - such as luxury, midlevel or boutique - occupying the property if developers could raise the $5 million to $6 million necessary.

That news contrasted with generally disappointing economic indicators, including bookings at the Tampa Convention Center.

The convention center is booked at 66 percent of the target goal in 2010, lower than much higher rates for peer cities, said Norwood Smith, vice president of sales for Tampa Bay and Co., the agency that promotes the visitors industry in Tampa.

The mixed news was reflective of general uncertainty among the hoteliers who, pinched by falling demand and rising fuel, heard presentations urging them to keep prices up and continue to market to international customers.

Reporter Jacob Schneider can be reached at jschneider@tampatrib.com or (813) 259-7850.

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