Greenbrier Buyer Says He's Settled With Marriott

By: Associated Press
By: Associated Press

Charleston, W.Va. (AP) -- The Greenbrier's new owner says he's tentatively settled his differences with Marriott International over his $20 million purchase of the West Virginia resort.

James Justice said Monday he's agreed to negotiate a marketing deal with Marriott.

If they can't work out a deal within 30 days, justice says he'll pay a $7.5 million breakup fee.

Marriott had agreed to buy the Greenbrier from Jacksonville, Fla.-based railroad CSX Corp.

That agreement was awaiting approval as part of the Greenbrier's bankruptcy case when Justice bought the resort for $20.1 million in May.

Separately, Justice says he's agreed on new contracts with the hotel's unions.

Justice is seeking to have the resort's bankruptcy case dismissed.

A hearing is scheduled for Tuesday in Richmond, VA.

(Copyright 2009 by the Associated Press. All rights reserved.)

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