Tuesday, June 06, 2000

What's the Buzz?


Film crew at inn, but no buyers yet

By Lisa Biank Fasig
The Cincinnati Enquirer

        Frisch's Restaurants Inc. hasn't attracted buyers for its two area hotels, put on the market in March, but traffic at one of the inns has gotten a big boost.

        Craig Maier, CEO of the Big Boy chain, said the movie crew for the film Traffic has been staying at the Clarion Riverview Hotel in Covington. The near-30-day account runs to about $100,000, he said.

        A film crew might make the hotel look more romantic to potential buyers, three of whom toured the hotels last week. Frisch's wants to raise $16 million to $18 million through sale of the Clarion and the Quality Central Hotel in Norwood. The money would pay down debt.

        Mr. Maier said lots of out-of-town and international prospectors have come to see the hotels, but none has made a suitable offer. The problem is they like the look of the hotels more than the Cincinnati hotel market, Mr. Maier said.

        “It's not a quick move, but it's not as if someone's saying, "These are awful things and they'll never sell,'” he said.

        The hope is that the hotels will be under new ownership before the movie comes out.

        Have a tip about a Tristate company that should be included in our daily Buzz? Give business editor Richard Green a call at 768-8477 or e-mail him at rgreen@enquirer.com.

       



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- What's the Buzz?
Tristate Business Summary
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