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As Expected Roberts Hotels Tampa LLC Files for Bankruptcy for
the Comfort Inn Hotel in Tampa, Florida which is Closed

This is the Fourth Hotel Bankruptcy Filing for The Roberts Cos. Since December 2011


By Lisa Brown, St. Louis Post-DispatchMcClatchy-Tribune Regional News

May 07, 2012--A Florida hotel owned by the St. Louis-based Roberts Cos. filed for bankruptcy today, marking the fourth time a Roberts hotel has sought bankruptcy protection since December.

Roberts Hotels Tampa LLC filed for Chapter 11 bankruptcy in federal court in St. Louis today. The Comfort Inn hotel at 820 East Busch Blvd. in Tampa is closed.

The hotel's estimated assets range between $1 million and $10 million and its liabilities range between $10 million and $50 million, according to the bankruptcy filing.

The Roberts Cos., led by brothers Michael and Steven Roberts, own 11 hotels in several states. The company has come under financial distress in recent months in both its real estate holdings and broadcasting business.

In April, Bank of America sued the Roberts brothers for more than $34 million, alleging they are in default on a loan connected to multi-million dollar renovations to several hotels they own outside of Missouri, including Tampa.

The Roberts brothers said they planned to seek bankruptcy protection for some of the hotels named in the Bank of America lawsuit. In addition to Tampa, the Roberts' hotels included in the Bank of America suit are located in Atlanta, Dallas, Houston, Shreveport, La., and Spartanburg, S.C.

One of the Roberts Cos. hotels, in Jackson, Miss., which is not related to the Bank of America lawsuit, filed for bankruptcy in December.

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(c)2012 the St. Louis Post-Dispatch

Visit the St. Louis Post-Dispatch at www.stltoday.com

Distributed by MCT Information Services



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