Greenbrier Sold to WV Businessman
The Greenbrier has a new owner, but it’s not Marriott International. West Virginian Jim Justice announced his company, the Justice Family Group, purchased the resort and 80 percent of The Greenbrier Sporting Club.
"I am very excited to become part of one of America's finest traditions," said Justice in a statement. "The Greenbrier is uniquely 'West Virginian,' and I look forward to working with the team to build on its legacy."
Previous owner, CSX Corp, had a deal with Marriott contingent on a labor deal and continued operational financing from CSX.
“While this is an entirely different kind of transaction than we expected, this is a great result for the Greenbrier, its employees the community and CSX," said CSX CEO Michael Ward in a statement. “Mr. Justice has made his passion and enthusiasm for the Greenbrier very clear.”
Financial terms of the deal weren’t available, but Justice said he plans to seek dismissal of the resort’s recent bankruptcy filing. The purchase was made through the acquisition of the stock of The Greenbrier's holding company.
“Our near-term goal is to give The Greenbrier a fresh start,” Justice said. “Even though the current economy is taking its toll on the resort, we are going to take a long-term view by focusing on reclaiming our five-star status and making the right investments for future growth.”
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