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queenb24

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http://www.prismhotels.com/press-02.php

So, I have a question and hopefully this is not an old post...

I was on this website and I see that the Louisville property has been placed under a court order Jefferson Circuit Court Division 5 – File No 08-CI-12308 that it is now under Prism Hotels and Hospitality Receviership LLC, a division of Prism. 

what is this, and what does this mean?

I have my husband looking up the case for me for details.

cedarrapidsfom

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In laymans terms it means Prisim is babysitting the property until the bank takes the property from Kronos and sells it off to another buyer. Though Prisim is running the hotel, the ultimate owner is still Kronos. That will change as soon as the court proceedings are done. I hope this sheds a little light for you.

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queenb24

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Thanks for explaining it to me...it makes sense!

Kinda puts the rumor of the hotel reopening soon to bed...plus they would have to re-do the entire hotel to bring up to code and pass inspection. 

I researched the property and it said there was an owner on the property of Louisville Properties LLC.  I could find anything out about this owner. 

Oh well... I just hope that when and if the property opens again that they go through a true HR process and look to see if some folks should actually be hired back, or if they were just collecting a paycheck...

cedarrapidsfom

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There will be new owners once everything goes through court. I am waiting and watching for this to happen in Cedar Rapids. It will be a glorious day.

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