Irving, Texas-based Omni Hotels & Resorts has a $67.1 million bid out to acquire the luxury Amelia Island Plantation resort located 29 miles north of Jacksonville, Florida. The resort is currently in Chapter 11 bankruptcy. According to the Dallas Business Journal, Omni’s bid is currently the highest submitted and completion of the sale depends on Omni gaining the approval of a Florida bankruptcy court expected later on this week.
If the approval goes as planned, Omni will take full ownership of the resort in the fall of this year. Omni has growth plans for the resort including adding 125 rooms and suites and a 16,000-square-foot ballroom. The acquisition is part of the companies brand expansion plan which in the past few years has included resorts in Pennsylvania and New Hampshire.
To read the full article from the Dallas Business Journal, click here.