Categorized | Hotels

Los Colinas Four Seasons – Dallas – seeing red ink…

Posted on 12 November 2009

Four Seasons Resort and Club Dallas at Las Colinas is operating in the red, and its owner could default on a $175 million loan, the owner’s attorney said late Monday. Lawyer Stephen Meister said Los Angeles-based Bently Forbes missed a scheduled payment in October to mortgage holder CE Capital, which has been cool to the company’s plan to pump additional funds “in the range of $10 million” into the  exclusive resort. Despite the owner’s financial woes, hotel general manager Michael Newcombe said Monday that the 400-acre resort would remain open with “business as usual.” Four Seasons has a management contract to run the hotel for the next 40 years, and that isn’t tied to a particular owner, he said.

 

Source: Dallas Morning News

Leave a Reply

You must be logged in to post a comment.

Tags

Twitter

Videos, Slideshows and Podcasts by Cincopa Wordpress Plugin