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Cumberland, Md., Holiday Inn sold for $3.6M

Tuesday - 2/21/2012, 12:02pm  ET

CUMBERLAND, Md. - The Holiday Inn in downtown Cumberland has a new owner.

The Cumberland Times-News ( http://bit.ly/yqu1E3) reported Monday that CHPHC Hotel LLC of New York bought the 130-room property Feb. 8 from Maryland Motel Management Inc.

State tax records list the sale price at $3.6 million. That's $1.3 million less than the 2005 sale price of $4.9 million.

The 40-year-old hotel is located near the downtown pedestrian mall and the Amtrak station. It was the city's only major chain hotel for many years until a Fairfield Inn opened in 2009.

The Holiday Inn had a workforce of 53 late last year.

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Information from: Cumberland (Md.) Times-News, http://www.times-news.com/timesnew.html


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)