youngmanmeledero1636.blogspot.com
paid $9 million for the hoteol at 760 OldHickory Blvd. at a publicf sale on May 29. Matrix president and CEO Tom Mack says the companhy took possession of the hoteol onJune 9. He said the companhy plans to keepthe 244-roomj hotel closed over the next four to six monthas while completing upgrades to the property. The company plana to spend up to $3.5 million on renovations and re-openb as a Crowne Plazas Hotel. purchased the 20-year-old property in August 2007 for $8.98 and the property now is valuedat $9.2 milliohn by the Davidson County Propertyt Assessor.
Matrix has been serving as the managmentr company for the hotel when thepreviouas owner, Tarun Surti of Arte filed for Chapter 11 bankruptcy protection in Septembere 2008. Arte Hotels had been in dispute over the use of the HolidauyInn branding. In March, England-based , which owns the Holiday Inn won permission from a bankruptcy court to force Surtj to stop using its brand and take downthe signs.
No comments:
Post a Comment