| September 23, 2002 - NCL/NATIONAL CONTENT LIQUIDATORS, INC., the Nation�s
Premier Liquidator for the Lodging Industry, announced today that it has
signed an agreement with Drury Inns to liquidate the 400 room Preston Hotel,
located at 2235 E. Sharon Road, Sharonville, OH.
The hotel formerly known as the Holidome North, consists of 6 individual buildings. Following the on-site liquidation sale, one building will undergo extensive renovations and reopen as a Drury Inn. The remainder of the area will be slated for demolition and converted to commercial use. �We love taking a fresh approach to every liquidation project that we encounter, this being no exception. The Preston has given us a great opportunity to test our collective creativity in order to tailor an approach that will maximize the return of investment for all parties involved without interrupting the critical time path of the entire project,� said Michael G. Lunsford, President of NCL. �In fact, NCL is one of the only professional liquidation firms in the country that has the expertise, the knowhow and the staffing to conduct an on-site liquidation sale of this magnitude�, he added. The entire contents of the Preston Hotel will be sold via a giant tag
sale beginning Thursday, September 26, that will continue for 30 days.
Everything will be sold to the walls, including all guestroom furnishings,
kitchen equipment and commercial laundry equipment. Lunsford also
notes that his firm will be turning specific areas of the project over
to construction within days of the project start date, allowing for preliminary
demolition work to begin as soon as possible. �We are used to working
in conjunction with construction and renovation teams in order to meet
the goals of an entire project, not just the piece of the pie that we are
responsible for.�
NCL has remarketed the contents of more than 800 hotels and resorts in the continental U.S. and off-shore, successfully completing over 300,000 guestrooms ranging in size from 100 to 2,000 room properties. Included in the Springboro, OH based company�s portfolio of satisfied clients are the Willard Hotel, Washington, D.C., the Ambassador, Los Angeles, and the Waldorf Astoria and Plaza Hotels, New York. Michael Lunsford serves NCL as President and CEO and has been associated with NCL for over 30 years. A graduate of Ohio University in Athens, OH, he has published numerous articles on the liquidation process, has been a featured guest on CNN Moneyline, CNBC and CNN, and has offered his expertise at various trade conferences. |
