Prominent businessman mulls buying troubled hotel
Danny Murphy says he'd consider deal on Holman Grand
The head of D.P. Murphy Inc. has expressed some interest in buying the Holman Grand Hotel in Charlottetown, P.E.I.
Danny Murphy said he'd consider a possible deal once the owner of the $25-million Holman Grand Hotel goes through creditor protection.
Murphy already owns three hotels and a motel in the Maritimes. He has plans to develop several more, including the possibility of a new venture in Charlottetown.
Murphy said he could buy the Holman Grand instead, but that much depends on the owner, Homberg Invest.
The Halifax-based company went into bankruptcy protection in September. One of the largest creditors is the P.E.I. government, which is owed at least $16 million for the hotel alone.