The owners of what used to be the Hilton Hotel in downtown Pittsburgh are expected to announce today that they have reached a deal on a new name and franchise.
A lawyer for the Shubh Group says it is a high-end hotel chain and one that currently does not have a hotel in Pittsburgh.
The new hotel will be listed as a four diamond standard under AAA ratings, which is the second highest.
KDKA’s Jon Delano reports that minority owner Dr. Kiran Patel, out of Florida, will take majority ownership of the hotel.
The facility reportedly must also undergo $1 million in upgrades to meet the standards of the new franchise. That does not include the long-stalled construction project out front.
There have been a number of recent setbacks for the landmark hotel.
Two weeks ago, the Hilton organization withdrew its franchise and the bank lender sought to foreclose on the property. Last week, the owners filed for Chapter 11 Bankruptcy protection.
Stay with KDKA for the latest on this developing story.