Capital Gazette wins special Pulitzer Prize citation for coverage of newsroom shooting that killed five

Blackstone Group, L.P.

New projects abound in Baltimore's challenging hotel market

New projects abound in Baltimore's challenging hotel market

The historic Lord Baltimore Hotel sits a block away from the Sheraton Baltimore City Center, but less than a week after the 1926 landmark celebrated a multimillion-dollar restoration, the owners of the aging Sheraton on Fayette Street warned of mass layoffs and a potential shutdown.

Baltimore's hotel market is at a crossroads as investments pour into properties new and old amid a nationwide pickup in business and leisure travel. As new hotels open, older properties scramble to remain competitive in a market in which demand for rooms remains healthy but has yet to rebound to pre-recession levels.

"This is a street-corner market, and developers always think they can do...

70°