Trenton’s only hotel up for auction

Two qualified bidders on Monday will vie to become the owner of the 197-room Lafayette Yard Hotel in downtown Trenton. 

Bidding for Edison Broadcasting and VBCE will start at $5.7 million.

The city-owned hotel and attached garage cost $60 million when it opened as the Trenton Marriott in 2002.

Marriott pulled out in July and a management company couldn’t attract a new operator. The nonprofit board that oversees assets filed for Chapter 11 bankruptcy protection.

The Times of Trenton reports the city will be responsible for paying back the portion of the $14 million in debt that’s not covered by the sale price.

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