The auction to sell the Holiday Inn Johnstown-Downtown has been postponed.
The tender was supposed to take place next week from Monday to Wednesday, but the process will now take place in a few weeks for the property at 250 Market St. which is owned by Pasquerilla Enterprises. No firm date has been announced.
“Considering the summer trips, the delay in receiving third party reports and financing options, several potential buyers have requested additional time to view the property, so we are extending the auction until September to hold account their schedules, ”said Mark Pasquerilla, CEO of Pasquerilla Enterprises.
“Several strong buyers have requested extra time, and we want to make sure that the best possible buyers are able to participate in this process. To accommodate them and their schedules, we choose to postpone the auction until September. As always, we are firmly committed to serving our guests at the Holiday Inn (Johnstown-Downtown) and promoting tourism in Cambria County.
The 159-room, six-story full-service hotel, which opened in 1973, is listed on Ten-X.com. The starting bid is $ 1.7 million.
Dave Sutor is a reporter for The Tribune-Democrat. He can be reached at (814) 532-5056. Follow him on twitter @Dave_Sutor.