Trenton's only hotel sells quickly at auction - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Trenton's only hotel sells quickly at auction

Posted: Updated:

TRENTON, N.J. (AP) - Trenton's only hotel has sold quickly at auction.

The winning bidder at Monday's auction agreed to pay $6 million for the 197-room Lafayette Yard Hotel.

Edison Broadcasting, a New York-based media company which owns several television and radio stations, beat out New Jersey-based VBCE, which owns several Dunkin Donuts restaurants and hotels in Virginia, Maryland and Pennsylvania.

The city-owned hotel and attached garage cost $60 million when it opened as the Trenton Marriott in 2002.

Marriott pulled out in July and a management company couldn't attract a new operator. The nonprofit board that oversees assets filed for Chapter 11 bankruptcy protection.

The Times of Trenton reports the city will be responsible for paying back the portion of the $14 million in debt not covered by the sale price.

PRIOR COVERAGE

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey NewsNew Jersey NewsMore>>

  • Some Showboat workers get new jobs within company

    Some Showboat workers get new jobs within company

    Friday, August 29 2014 2:54 PM EDT2014-08-29 18:54:36 GMT
    More than 470 of the 2,000-plus workers at Atlantic City's Showboat Casino Hotel have found new jobs with other casinos owned by its parent company. The Showboat is shutting down Sunday afternoon after 27 years on the Boardwalk.
    More than 470 of the 2,000-plus workers at Atlantic City's Showboat Casino Hotel have found new jobs with other casinos owned by its parent company. The Showboat is shutting down Sunday afternoon after 27 years on the Boardwalk.
  • NJ girl accidentally kills gun instructor

    NJ girl accidentally kills gun instructor

    Friday, August 29 2014 1:24 PM EDT2014-08-29 17:24:19 GMT
    A 9-year-old girl from New Jersey accidentally killed an Arizona shooting instructor as he was showing her how to use a fully automatic Uzi. Charles Vacca, 39, was standing next to the girl at the Last Stop outdoor shooting range when she pulled the trigger and the recoil sent the gun over her head, investigators said.
    A 9-year-old girl from New Jersey accidentally killed an Arizona shooting instructor as he was showing her how to use a fully automatic Uzi. Charles Vacca, 39, was standing next to the girl at the Last Stop outdoor shooting range when she pulled the trigger and the recoil sent the gun over her head, investigators said.
  • Victim's family feels sorry for girl who shot him

    Victim's family feels sorry for girl who shot him

    Friday, August 29 2014 1:19 PM EDT2014-08-29 17:19:45 GMT
    The ex-wife of an Arizona shooting range instructor accidentally killed by a 9-year-old girl learning to use an Uzi said Friday that her family plans to write the child a letter to comfort her.  Instructor Charles Vacca was standing next to the girl on Monday at the Last Stop range in White Hills, Arizona, about 60 miles south of Las Vegas, when she squeezed the trigger.
    The ex-wife of an Arizona shooting range instructor accidentally killed by a 9-year-old girl learning to use an Uzi said Friday that her family plans to write the child a letter to comfort her.  Instructor Charles Vacca was standing next to the girl on Monday at the Last Stop range in White Hills, Arizona, about 60 miles south of Las Vegas, when she squeezed the trigger.
Powered by WorldNow

25 FOX Drive
Dedham, MA 02026

Phone (781) 467-2525

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices