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Article: PORTSMOUTH HOTEL IS UP FOR SALE NON PROFIT AGENCY COULD BE AMONG HOLIDAY INN OLDE TOWNE'S SUITORS.(BUSINESS)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- April 6, 2001
CopyrightCOPYRIGHT 2001 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. 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)
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Byline: LOUIS HANSEN THE VIRGINIAN-PILOT
PORTSMOUTH -- Facing stiff new competition and a changing hotel market, the Holiday Inn Olde Towne has been put up for sale.
The 272-room waterfront hotel has been listed for $10.95 million, and officials say a nonprofit, quasi-city agency could be among the prospective suitors. The Holiday Inn is about two city blocks away from the city's new, $48 million Renaissance Portsmouth Hotel and Waterfront Conference Center, and has seen business dip since the Renaissance opened in January.
Commercial real estate broker George Mumford, who is marketing the property, said he has discussed the hotel with several prospective buyers, ...