While it was a longshot that they would have been ready in time for GenCon2016, the developer and Hilton have dissolved their agreement for a Canopy by Hilton (and 180 greadily awaited new hotel rooms) at Illinois and Market. On the positive side- the Giordanos, and Hyde Park Steak House going in on the ground floor of that building may still be ready in time.
My understanding is that while it's not going to be a Canpoy, there will be some hotel there. I'm just not expecting it to be open in time for Gen Con.
Yes, I think any chance for a facility having a soft opening prior to this years convention is probably gone. Reading between the lines it sounds like someone might have approached the developer looking to lease a couple of floors for corporate/office space- so whatever banner it ends up under it may have less rooms than the Canopy was going to have.
If Giordano's is open, that would be awesome. We're at the Embassy so it's right there. Better than CPK. :)