Internal Conflict Puts Hotel Plan In Danger
By: Brian Miller
Updated: June 23, 2011
The hotel project was initially awarded to Woodruff hospitality, the Kunkel Group later partnered with them to help secure funding Ben Kunkel says his group has secured financing for Woodruff Hospitality.
Meanwhile, almost all of the shareholders in Woodruff Hospitality have decided to branch off from the Kunkel Group and work with an out-of-state hotel developer on the project.The only thing holding investors back is Ben Kunkel's vote. At the same time, Kunkel is holding up the alternative group by refusing to sign away its stake in the project.
Kunkel cannot move forward either without their approval--- creating a bit of a standoff.
The out-of-state developer being targeted by the majority of Woodruff's shareholders has not been named, but construction company owner, and Evansville native, Chris Verville has been in contact with the new potential group.
Verville's group is hopeful it can take over the project without changing the terms of the agreement, or the original design.
But if the internal conflicts are not solved by the end of June-- both sides say they are ready to submit bids and start the process over.
Project manager John Kish tells News 7 that if the process were to start over, it would create a several week delay in the current plans.
Meanwhile, almost all of the shareholders in Woodruff Hospitality have decided to branch off from the Kunkel Group and work with an out-of-state hotel developer on the project.The only thing holding investors back is Ben Kunkel's vote. At the same time, Kunkel is holding up the alternative group by refusing to sign away its stake in the project.
Kunkel cannot move forward either without their approval--- creating a bit of a standoff.
The out-of-state developer being targeted by the majority of Woodruff's shareholders has not been named, but construction company owner, and Evansville native, Chris Verville has been in contact with the new potential group.
Verville's group is hopeful it can take over the project without changing the terms of the agreement, or the original design.
But if the internal conflicts are not solved by the end of June-- both sides say they are ready to submit bids and start the process over.
Project manager John Kish tells News 7 that if the process were to start over, it would create a several week delay in the current plans.
