Auditors report that the long-struggling Hilton Baltimore lost $5.5 million last year and had to dip into its hotel occupancy tax account – whose revenues are supposed to go to the city – to fund a semi-annual bond payment in March 2017.
The audit by CliftonLarsonAllen was submitted today to the Board of Estimates, but was not released by the mayor’s office this morning.
The Brew obtained a copy of the audit, which shows that the city-owned hotel increased its revenues to $64 million last year, but expenses grew to nearly $70 million.
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