The Troubles Facing The Greenbrier Resort

by Deidre Woollard (RSS feed)
Jan 10th 2009 at 8:02AM

The historic Greenbrier resort is the latest luxury casualty. CSX which owns the Greenbrier, has asked Goldman Sachs for advice on what to do about the high-end resort which lost $35 million last year. The West Virginia resort is a National Historic landmark property which features golf courses, fine dining, 721 rooms including 33 suites and 96 guest and estate houses, meeting rooms, a complete conference center facility and a 40,000-square-foot spa. But in the last year it's been plagued with union trouble and the faltering economy isn't helping its fortunes. The Motley Fool speculates that the best option for the Greenbrier may be a bankruptcy sale. Chris Jones of The Motley Fool calls the historic resort which has entertained presidents, celebrities and all sorts of dignitaries the "purchase of a lifetime." CSX announced on Friday that they would "furlough" hundreds of workers over the next two weeks ending up in a reduction of nearly half the staff.

One possible move to make money for the resort is gambling. In November, voters approved a measure to let the resort add casino gambling. Unions supported the measure hoping it could create revenue that would help keep health care and other benefits for Greenbrier workers.

Tags: greenbrier, resort

Filed under: Luxury Travel & Hotels

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Reader Comments (Page 1 of 1)

CK Dexter-Haven Jan 10th 2009 3:09PM

How very sad. I go there at least once a year, but I skipped 2008 and wasn't aware that the troubles were that deep. I'd hate to see it become Trumped
with glitzy gambling...I wonder if the nearby Homestead (smaller but in the exact same vein) is in trouble as well??!