After sinking millions into the venture Jay Z has decided not to go into the luxury hotel business after all.
Earlier this year we heard there was trouble with Jay finding investors for his luxury hotel AFTER he'd already spent $66 million on a plot of land for it in New York [click here if you missed that].
Then Jay sued the bank and investment firm he bought the land from after he says they took their sweet time accepting his offer to sell the land back to them, costing him millions personally [click here if you missed that].
Now they say Jay, totally soured on the idea of owning a hotel, decided to cut his losses and get out of the deal altogether.
