Daytona Beach Hoteliers Lose Their Properties
From Daytona Beach News-Journal
Bankruptcy erases $400 million in debt, but Bray and Gillespie lose 24 hotels and more
Charles Bray and Joe Gillespie blew into town in the mid-1990s and quickly became the toast of the town, buying 30-plus oceanfront hotels with 3,000 rooms over five years from Ormond Beach to Daytona Beach Shores. What Mother Nature started, and depressed real estate and tourism markets made worse, a federal bankruptcy court in Jacksonville recently finished. Click here for the full story
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