Hartford Business Journal

6 Hartford Business Journal • September 21, 2020 • www.HartfordBusiness.com Hartford Hilton could head to sales block with more favorable cost structure Waterford Group may have an easier time finding a buyer for its pandemic- battered Hartford Hilton hotel, as Mayor Luke Bronin has received the city council's blessing to restructure a lease and tax agreement with the Trumbull Street hotel. Councilors voted unanimously to authorize Bronin to extend by 49 years the ground lease on the city-owned property on which the 388-room hotel sits and enter into an agreement that would substitute the hotel's current payment in lieu of taxes, with an annual payment based on how much revenue the hotel brings in. Waterford said recently that it intended to market the hotel for sale, citing the financial effects of COVID-19. The hotel laid off about 300 people in July. CT small biz to see average 4.1% increase in 2021 health insurance premiums Small-group health insurance premiums will rise 4.1% next year, down from Connecticut health insurer's requested increase of 11.28%, according to the Connecticut Insurance Department. Insurance Commissioner Andrew N. Mais also said the average increase for individual plans will be just 0.1%, down from the average requested increase of 6.29%. The approved rates were impacted by the rising costs of prescription drugs and the increased demand for medical services, the insurance department said. Liberty Bank leases first downtown Hartford office Liberty Bank says it's breaking into Hartford's office market after signing a five-year lease at downtown's 100 Pearl St. tower. The Middletown-based bank announced it recently signed a lease with landlord Shelbourne Global Solutions LLC to occupy 2,170 square feet at 100 Pearl for a new commercial lending office. It's not yet clear how many people Liberty will employ downtown, or when it will debut its new office. Hartford law firm Murtha Cullina promotes Corea to managing partner Hartford law firm Murtha Cullina elected Andy Corea as the firm's managing partner. Corea, who currently chairs Murtha Cullina's business and finance department, will start in his new role on Jan. 1. He will succeed Jennifer Morgan DelMonico, who became managing partner in 2015. A Woodbridge resident, Corea is a partner in Murtha's intellectual property practice group, which specializes in IP issues like trademarks, copyrights and licensing. Ted's Montana Grill latest downtown Hartford restaurant to close permanently Ted's Montana Grill has permanently shut down its downtown Hartford location about six years after it opened on Front Street. Ted's in downtown Hartford closed its doors in mid-March, when the pandemic forced all restaurants to switch to a pickup-only model, or shutter completely. Dish and Firebox restaurants downtown have also shuttered permanently. LATEST HEADLINES 107 Old Windsor Road, Bloomfield, CT 06002 (860) 242-8586 | Fax (860) 242-8587 www.pdsec.com PDS ENGINEERING & CONSTRUCTION, INC. THINK • PLAN • BUILD Spotlight on: Retail The Awning Place | Glastonbury, CT Total Project Size: 12,000 SF Another Successful Project by PDS DESIGN BUILDERS • GENERAL CONTRACTORS • CONSTRUCTION MANAGERS PDS was selected as general contractor to build this pre-engineered metal building with overhead doors, brick veneer, storefront, offices and warehouse space. PHOTO | HBJ FILE Hartford Hilton hotel. Andy Corea

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