The new owner, Dhillon Hospitality Management Inc., was originally supposed to close on the transaction in December. In mid-December, Full House extended the closing date to this month, saying the buyer requested the extension following "a delay in securing a financing commitment, which has since been obtained."
The hotel has indoor and outdoor pools, sauna, fitness center, business center and meeting rooms. Full House says the sale will result in net proceeds of $6.9 million. The company plans to use the proceeds to reduce its debt load.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
