Wednesday, December 16, 2015

And the Host has.... SOLD?

Today was the last day of the auction for the Lancaster Host, home of Cold Wars, Fall-In!, and former home for Historicon. 

My early afternoon productivity at work has been non-existent, thanks to the final bids slowly moving the bid by amounts of $50K to $100K from $5.5 million up to the winning bid of $8.3 million.  More exciting that watching paint dry, but annoying, because everytime the bid was increased, it tacked an additional four minutes so other parties could counter it. 

I live on the edge, I tell ya!

So now, we wait with baited breath as to what happens. 

A) Carry on, nothing to see...  The Reserve was not met, so the winning bid is not binding.  The Host operates as normal and Cold Wars goes off without a hitch.

B) Sure!  We'll take it...  The owners of the Host decide to take the money and run, accepting the bid via the auction house or extensive negotiations.... They could...
  1.  Keep the hotel running and honor the contracts
  2. Shutter the facility for potential demolition, or keep the hotel running an NOT honor the contracts (dependent of course on the legal obligations that were spelled out in the documentation that bidders got.)  Since I didn't have the $25K deposit required to be an eligible bidder (it's in my other pants), I've got no clue.  Good, bad, or indifferent, there's no timetable for anything, nor is there any expectation of one!
This means the HMGS BOD has to prep multiple contingencies as all parties finalize this portion of the process.  Different venue? Different date?  Limited accommodations?   Even if it's the same old same old, the deadline for events for the first PEL is FRIDAY!

Who wished interesting times on HMGS???  They keep things "interesting" all by themselves.

No comments:

Post a Comment