Greenbrier Hotel Corp., owner of the iconic Greenbrier resort in White Sulphur Springs, W.V., announced yesterday that it has sought Chapter 11 protection. The move should have no effect on the day-to-day operations of the resort or its ability to accept and fulfill advance bookings, management said.
The company also said it plans to sell the property to Marriott International, subject to higher bids at auction.
“A sale to Marriott would be a great outcome for everyone associated with The Greenbrier,” said Michael Gordon, president and managing director of the resort.
The transaction, which is not expected to be completed until later in the year, is contingent on the ability of The Greenbrier and its unions to negotiate labor contracts that are satisfactory to Marriott as the Greenbrier competes in a "very difficult market environment," Greenbrier management said. Marriott would assume management responsibility for the resort as soon as the transaction is closed.