The Chattanooga hotel chain has announced plans to sell off the rest of its buildings and the rest on-site in the region.
The Chattanooga Hotel Association (CHHA) said in a statement that the company plans to “close the remaining hotels and restaurants on-property and close all our off-site operations in Chattanooga, Tennessee.”
Chattahawk said in its announcement that it would lease off-campus spaces to other tenants and “continue to expand our footprint into the region.”
The company said the sale will take place “over the next several months.”
It said that the Chattanooga hotels will be leased to a “private company” to be owned by an “independent board of directors” who will operate the property.
“The new management team will work closely with our Chattanooga Hotel Board and our guests to achieve long-term sustainable, long-lasting and profitable ownership of the hotel and its assets,” the announcement read.
“Chattahoocas hospitality, history and culture are deeply rooted in the city’s history, culture and traditions.
We look forward to bringing these to the Chattanooga community and to making Chattanooga one of the most exciting, authentic destinations for people of all ages.”
There will also be a new hotel on site for a future construction project, the statement said.
In January, the Chattanooga Hotel Company said it would “continue our commitment to the community” by selling off the hotel chain.
Chubbagoldews, the hotel company’s website, reported in January that the chain had “filed for Chapter 11 bankruptcy protection,” saying it would not be able to continue operations.
There are currently more than 30 Chattanooga hotels and a handful of off-sites, according to the CHHA.