Dunedin's multi-storey harbourside hotel appears to be dead in the water.

Just before this bulletin went to air, development company Betterways sent a copy of a letter noting a memorandum of understanding deadline had passed.

The company signed the memorandum with the council earlier this year, amid hopes the $100 million project could find a way forward.

That followed a DCC resource consent committee decision not to allow the hotel.

Betterways director Jing Song told 39 Dunedin News the project was over.

She said she was left speechless by the council's lack of communication.