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Questions Surround Completion Of Pittsburgh Hilton

PITTSBURGH (KDKA) ―

Click to enlarge 1 of 1: Sources indicate that the Hilton is being pursued by two ownership groups.
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The Hilton hotel remains unfinished and millions of dollars and months from completion. Sources indicate it will take more than $5 million just to satisfy outstanding debts to contractors.

In the meantime, sources close to the negotiations indicate two possible ownership groups have made serious offers on the property. One is a Tampa group and the other is a Pittsburgh businessman.

Sources indicate the Pittsburgh offer comes with money to immediately pay off all debts and immediately finish the property.

"All things being equal, we'd love to have a local operator," Mayor Like Ravenstahl said.

Ravenstahl says he's aware of the possible sale and aware of the possible local buyer.

"It would mean a lot to us to have the ability to go to talk to somebody that's local, that understands Pittsburgh, that loves this city, that wants to see this city do great things," Ravenstahl said.

The sale of the Hilton, which is the city's largest hotel, was met with great expectations and big promises from the new owner Atul Basaria more than three years ago

"Once we put in the money and we have renovated the property, the revenues are going to go up and its going to be the best hotel in Pittsburgh," Basaria at the time.

Things haven't turned out that way. At one point, the hotel owners were $1 million behind in pension and health payments to employees.

Construction on the property has been halted several times as well and documents indicate millions of dollars are owed.

As recently as last week, KDKA-TV captured sheriff's deputies entering the hotel to conduct inventory. They were prepared to auction off hotel property to pay off debts.

There is optimism though. A sale to a new owner, with money, could make a big difference immediately.