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LAKE BUENA VISTA - As a Chicago lender prepares to sell its stake in the Hotel Royal Plaza, details of financial troubles plaguing the high-profile property have begun to surface in auction documents.
Heller Financial is selling its $9 million interest in the hotel this month.
The sale coincides with reports of financial problems at the hotel. Some vendors have complained about slow payments. And recently, agents with the Federal Bureau of Investigation have made queries into the hotel's finances.
According to income statements distributed in conjunction with that sale, the hotel lost more than $1.7 million in the first 10 months of 1998.