A North Carolina developer has high hopes but is working against the odds on a plan to build a 350-room luxury hotel in West Raleigh, N.C. For one thing, the developer, Bob Barrett, has never built a hotel, and he's planning to develop the entire $77 million project with zero financing and 100% cash from private investment -- a feat one hotelier said would prompt him to "eat a copy of The News & Observer" if pulled off.

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