Latest Breaking News On - Sheraton pasadena - Page 1 : vimarsana.com

- ADVERTISEMENT - In an announcement Tuesday, Singapore-based Eagle Hospitality Trust said it will sell 15 of the 18 hotels in its portfolio, including the Queen Mary, Sheraton Pasadena and Holiday Inn Anaheim for a starting price of $470 million in an auction set tentatively for May 20.  The city of Long Beach owns the Queen Mary but for decades has leased the ship to various operators, some of whom have met similar financial struggles. Alan Tantleff of FTI Consulting, who was appointed as the chief restructuring officer in the bankruptcy, said Eagle has received an initial bid for the entire portfolio from a private investment firm called Monarch Alternative Capital. However, Eagle could choose to sell the Queen Mary or any of its properties individually in the auction, he said, adding that it has received multiple offers for the Long Beach landmark.

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