Newspaper article St Louis Post-Dispatch (MO)

Renaissance Grand Sale Is Still in the Works; Talks Continue despite a Missed Deadline for a Deal; BUSINESS

Newspaper article St Louis Post-Dispatch (MO)

Renaissance Grand Sale Is Still in the Works; Talks Continue despite a Missed Deadline for a Deal; BUSINESS

Article excerpt

Negotiations to sell the suites portion of the financially troubled Renaissance Grand Hotel in downtown St. Louis still continue despite a missed deadline.

In May, word was a buyer was in line for the suites portion of the hotel, known by many in St. Louis as the Lennox.

The prospective buyer had until July 7 to reach a deal, according to UMB Bank, trustee for the hotel's bondholders. July 7 passed with no announcement of a deal.

While a letter of intent related to that potential sale expired, talks continue, according to a UMB notice this month to bondholders. If those talks don't yield a new letter of intent, the bank will offer the suites portion "for sale to other parties who have expressed an interest in purchasing the property," the notice said.

The suites closed months ago, although the main part of the nearly 1,100-room hotel across Washington Avenue remains busy. As for the main hotel comprising the former Statler and its mammoth addition a potential sale might be in the works, UMB disclosed. …

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