The Greenbrier Files Chapter 11, Makes A Deal With Marriott
Back in January, I wrote about the trouble befalling the historic Greenbrier resort in West Virginia. The luxury resort, which is a National Historic landmark property, lost $35 million last year and filed for Chapter 11 bankruptcy amid heavy debt. The Greenbrier, which is owned by railroad company CSX has worked out a deal with the Marriott hotel chain. CSX will lend Marriott $50 million to operate the luxurious four-star resort for two years and then Marriott will repay that loan and give CSX between $60 million and $130 million within seven years depending on the resort's financial performance. The deal allows the resort to stay open and saves it from a worse fate, it could have ended up in Donald Trump's hands.
Reader Comments (Page 1 of 1)
CK Dexter-Haven Mar 19th 2009 10:26PM
True enough, Trump would have been worse, but it is very sad to see this, I go to the Greenbriar (and the nearby Homestead), a couple of times each year...usually long weekends...both are wonderful.
Jake Mar 20th 2009 10:35AM
This is too bad. I grew up a few miles from The Greenbrier and it is the largest employer in the county. I hope everything works out, it stays open forever, and the unions can stop their bickering and be glad they are still employed.
It is a georgeous place to visit, I have run into Ross Perot a few times there, it is his favorite vacation destination I believe.
strappedbelt.com Mar 26th 2009 6:51PM
I used to live at the Greenbrier it is an amazing place. I love all of the Dorothy Draper influence, and it would be a shame to see it go. I'll do my part and book a trip to help it stay afloat!