Former Howard Johnson hotel in Fla. is sold to backup bidder

04/11/2013 | American City Business Journals

Chieftain Holdings has acquired a former Howard Johnson hotel in Fort Lauderdale, Fla., for $20 million. The bankruptcy auction for the property was initially won by a Cignal Corp. affiliate with an offer of $22.5 million. However, the affiliate failed to appear at the deal's closing.

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