News for the Hospitality Executive
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.
Questions regarding the sale of Amelia Island Plantation should be directed to The Plasencia Group at (813) 932-1234 or via email at firstname.lastname@example.org.
About The Plasencia Group, Inc.