Crowdfunding effort behind plan to revitalize Route 66 hotel
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January 19, 2020
ALBUQUERQUE, N.M. (AP) — There are plans to redevelop another dilapidated hotel along the longest urban stretch of historic Route 66, but this project on the edge downtown Albuquerque will be bankrolled in a unique way.
ARRIVE Hotels & Restaurants, the California-based hotel and entertainment company behind the effort, is partnering with investment platform NextSeed to raise $6 million through local crowdfunding to pay for part of the project.
At nearly $25 million, the work will involve updating rooms at The Hotel Blue, changing the property's name and adding new food and drink offerings.
The...
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