The city has received eight bids from companies competing for the right to collect and sell off the hotel’s contents, said Iftikhar Ahmad, Dayton’s director of aviation. As soon as the third week of March, he hopes to recommend one of the companies to the Dayton City Commission for hiring to handle the liquidation.
The city would receive a lump-sum payment from the liquidator, likely 20 percent up front with a letter of credit guaranteeing payment of the remaining 80 percent at the job’s conclusion, Ahmad said.
That would clear the way for demolishing the city-owned hotel, a chronic money-loser, as soon as May. A demolition contractor is yet to be hired.
A portion of the hotel that houses a training center for Dayton-based PSA Airlines will be left standing.
It will be next year before the airport has another hotel on site. InterContinental Hotels Group, owner of the Holiday Inn hotel brand, expects construction of a Holiday Inn & Suites at the Dayton International Airport to start this summer and be done by fall 2011. It will be a privately operated hotel that will make annual land-lease payments of $48,800 to the city.
Contact this reporter at (937) 225-2242 or jnolan@DaytonDailyNews.com.
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