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The fate of the Alexander Fulton Hotel is uncertain as bankruptcy proceedings continue.
But the hotel will remain open under new management until a buyer can be found. News Channel 5’s Joel Massey has more.
The Alexander Fulton Hotel may be in the middle of bankruptcy proceedings but they’re still in operation thanks to Local businessman Fred Rosenfeld. He is now the interim manager of the hotel at the request of Capital One bank. The former manager, the N.R. Group, filed for bankruptcy in November. Capital one holds the mortgage on the property which is more than $3 million.
Rosenfeld said, “I was called a couple of weeks ago and told if I would take over the operation of the hotel we could avoid an immediate closure of the hotel and I said I would do that so I organized a management crew and we’ve gone in and taken over operation of the hotel.”
Rosenfeld says he’s going back to basics of to keep the hotel afloat.
“Hotels don’t go into bankruptcy because they are operating properly. The first thing we had to do was to take care of security. We now have 24 hour security from APD or RPSO. Secondly is cleanliness, we’ve started cleaning the hotel up from top to bottom and then we get into food beverage and hospitality that sort of thing.”
Rosenfeld and his management team are scheduled to operate the hotel for 90 days.
“They’re hoping to have a foreclosure sale in March but that’s all subject to change.”
He’s encouraging people to stay at the hotel and check out the changes made.
“We need business everybody needs business and I think if you come out there you’ll see there’s certain aspects of the Fulton Hotel that have improved immediately.”
Rosenfeld and B.K. Fulton Management will receive a $15,000 per month management fee from Capital One.
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