1. It seems clear that the Park Hotel (the building) will reopen. (i.e. it will no longer be standing vacant).
No one here has attempted to define in what manner the building will be used.
2. The lack of lease isn't defined. The owner's wife might have been stating that the Asian couple did not yet have renters/lessors.
3. Here's a leap. No one would renovate a property were they not planning to use it, rent it or sell it.
Therefore... word on the streets/rumor is not necessarily incorrect. The building appears as if it will indeed be reopened. Irish Drifter, your discounting the rumor out of hand is nonsense.
As is the case with any locale where solid information is difficult to nail down, one has to occasionally give some small credence to rumors and then try to follow them up. "Word on the streets" was that Kamur was being sold. Those rumors proved true, and said rumors had quietly emerged even before Kamur was listed for sale. "Word on the streets" was that Bill Alexander was planning to buy the Hotel castillo; those rumors so far have proven false. You can never tell until more information is discovered, so why show such disrespect to the originator/poster of said rumor? Wouldn't it be better to take a "wait and see" attitude, rather than immediately jump in and call bullsh*t?
Your bullet train example is ridiculous, simply because a project of such magnitude would readily be verifiable. It would be huge news, whereas one small hotel being renovated would not. I get your point, but I'd prefer not to compare apples with guanabanas.
Will the Park Hotel ever be used again for a ST hot pillow hotel, featuring lewd and lascivious entertainment on the weekends? Probably not, but again who knows? Word on the streets is that the hotel's owners are renovating, and that particular word seems to be correct.
Respectfully submitted,