12 millions dollars. That's what the going price is for the Royal Connaught Hotel as it proceeds through bankruptcy.
A mortgage-holding numbered company, who is a secured creditor, has put the building up for sale, said the bankruptcy trustee. See Spec article here
Additional details found in today's Spec. See it here.
Do you think this is the beginning of a renewal of the iconic hotel, or is it another step toward an ultimate state of demise?