BUFFALO, N.Y. — Paul Kolkmeyer heard a word last year that he never expected: No.
That was the response when he went to a number of financial institutions seeking backing for his plans to convert a portion of the Goodyear Mansion into a 28-room boutique hotel. A year earlier and his request for the $11 million project wouldn't have been a problem.
But the pandemic dramatically changed the economics of hospitality and tourism across the country. Pre-Covid, hotels were a good bet as room occupancy rates and revenues were on the upswing. Now, they are at record lows.
