The Latest Twist In The Greenbrier Saga

by Deidre Woollard (RSS feed)
May 8th 2009 at 2:12AM

There's probably a book in the story of the Greenbrier hotel, a complicated tale rich in history and drama. The saga took a new turn when it was revealed that the Justice Family Group picked up the equity of the West Virginia hotel for $20 million this week. The Wall Street Journal reports that the new owners will ask the bankruptcy court to dismiss the property's Chapter 11 proceedings. In March, Greenbrier's previous owner, rail operator CSX Corp. had announced that the hotel's assets would be sold to Marriott. This week's deal is a sale of the bankrupt company itself and the Justice family hopes to reverse the bankruptcy and give the Greenbrier a fresh start.

The Greenbrier has a long way to go. The resort has struggled in recent months despite its rich history and many amenities. The resort is also rather expensive to maintain. Marriott is said to still be interested in the hotel and has said it has a contract to purchase the hotel and it still intends to do so.

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