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Auction Date Set in Amelia Island Plantation (FL)
Chapter 11 Reorganization

TAMPA, FL,  July 14, 2010 – The Plasencia Group, Inc., a hospitality investment and advisory firm, has announced that a firm date has been set for the auction of Amelia Island Plantation.  The U.S. Bankruptcy Court for the Middle District of Florida has scheduled August 23 at 3:00 p.m. Eastern Time as the date and time for the auction to sell the asset to a qualified bidder or bidders who has submitted the highest and best acceptable and binding bid. 

Amelia Island Company retained The Plasencia Group to maximize the value of the company’s assets for all stakeholders by conducting an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code.  Through this process, Noble Hospitality Fund Acquisitions, LLC has emerged as the stalking horse bidder with an offer of $47.4 million. 

Parties interested in participating in the sale process at the final auction must qualify as an acceptable bidder.   The deadline to prequalify as an acceptable bidder is July 22.   Due diligence must be completed by the date set forth in the bid procedures documents. 

The sale procedures order/auction bidding procedures and related information may be obtained online at www.tpghotels.com and at www.loganandco.com

Questions regarding the sale of Amelia Island Plantation should be directed to The Plasencia Group at (813) 932-1234 or via email at info@tpghotels.com

About The Plasencia Group, Inc. 
Founded in 1993, The Plasencia Group provides hospitality investment sales, consulting, and advisory services throughout the United States, Canada and the Caribbean.  The Plasencia Group offers personalized lodging-related investment sales opportunities, asset disposition, and advisory services to life insurance companies, banks and pension funds, and private owners of hotels, resorts, and golf courses.  With offices across the country, TPG offers a full range of value-added solutions, including single asset and portfolio dispositions, strategic portfolio analysis, asset and loan monitoring, note sales, operations benchmarking, operator and brand negotiations, hotel development consulting, asset management, and debt and equity placement.

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Contact: 

Karen Brand
Vice President of Marketing & Communications
The Plasencia Group, Inc.
203.202.4549 Cell
kbrand@TPGhotels.com
 

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