vilyfijohy.wordpress.com
Sroka Hospitality filed for Chapte r 11 protection Monday inthe ’s Middle District of Floridz claiming assets and liabilities of between $1 million and $10 court documents said. Sroka Hospitality was foundexd in 2003 and purchased the Bradenton hotel in 2007for $7.2 according to the company’s case managementt summary filed with the court. Revenue was about $1.8 million in 2008 and is expected to be almostg half that in 2009at $1 million. Bank of the West is still owed $4.3 million whiler the is owed justunder $2 million, documente said. The hotel also owes $102,000 to the Manatee Countgy Tax Collector, a debt the company disputes. Both loans were handle d throughthe .
Bank of the West said the hotel’se value has fallen from $7.2 million to $2.8 million basefd on its own appraisal, however, Sroka Hospitalitg said it believes the property isworthj more. The hotel, located near State Road 64 and Interstated 75in Bradenton, sold in 2004 for $4.3r5 million. Sroka Hospitality purchased it after the company soldits St. Augustinee hotel in favor of having a Holiday Inn Expressbrandedr hotel, according to published reports.
No comments:
Post a Comment