City of Chattanooga wants to sell hotel it owns

CHATTANOOGA, Tenn. (AP) - The city of Chattanooga hopes to sell a hotel it owns.

Mayor Andy Berke tells the Chattanooga Times-Free Press (https://bit.ly/2lFpYJ0 ) that the city would like a private company to buy The Chattanoogan hotel and conference center that opened in 2001.

City Finance Officer Daisy Madison says the minimum asking price would be $37.3 million, which is what the city still owes on the hotel’s 30-year bond issue.

The Chattanoogan has 199 hotel rooms, three restaurants and 25 meeting rooms.

Benchmark Resorts and Hotels currently manages the hotel for the city.

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Information from: Chattanooga Times Free Press, https://www.timesfreepress.com