CSX Greenbrier Resort may be sold
CSX’s Greenbrier resort in West Virginia has filed for reorganization under Chapter 11 of the bankruptcy code and may be sold to the Marriott International hotel chain.
Press reports said the resort filed for reorganization Thursday, but CSX said it had reached a tentative deal to sell the 720-room hotel to Marriott for up to $130 million.
CSX Corp. said in January it was looking at “all strategic options” for the hotel in White Sulphur Springs, W.V., saying it lost $35 million last year, and the resort faced “even more difficult challenges in 2009.”
People have been coming to the resort to “take the waters” at the area since 1778, and in 1910, the Chesapeake and Ohio Railway, a predecessor to CSX, purchased the property and built the central part of what is today’s Greenbrier Hotel.