|
|
Article: Major player Wyndham gets prestigious Checkers hotel; boost to downtown L.A. tourism scene is foreseen. (Wyndham Hotel Co.; Checkers Hotel Kempinski; Los Angeles, California)
- Article from:
- Los Angeles Business Journal
- Article date:
- April 4, 1994
- Author:
CopyrightCOPYRIGHT 1994 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
A limited partnership that includes a major hotel operator was expected last week to buy the financially troubled Checkers Hotel Kempinski in downtown Los Angeles.
Dallas-based Wyndham Hotels & Resorts, as part of the Grand Avenue Limited Partnership, was scheduled to take over the property's operations last Friday, April 1.
According to an official at Sumitomo Bank of California, the main lender on the property, the Wyndham transaction moved forward last week after a public auction of the hotel failed to produce a better deal.
"That's (the sale) great," said Michael Collins, senior vice president of the Los Angeles Convention & Visitors Bureau. "It's ...