Cavanaughs Wraps Up Hotel Purchase

Sat., May 30, 1998

From Staff Reports

Cavanaughs Hospitality Corp. announced Friday that it had finalized the $31.6 million purchase of the 393-room Olympus Hotel and Conference Center in Salt Lake City.

Operations of the hotel will change hands June 1.

The closing of this deal on July 1, will bring the total number of Cavanaughs brand hotels to 14. Several of the hotels are in Spokane, but in the past year, the company has acquired property in Idaho, Montana, Oregon and now Utah.

The hotel is in a prime location for Cavanaughs since Salt Lake is the site of the 2002 Winter Olympics.

In addition to the hospitality chain, Cavanaughs manages third-party properties, residential units and office and retail space.

Cavanaughs stock closed at $13.68-3/4, down 6-1/4 cents Friday on the New York Stock Exchange.

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are tax deductible.

Meet Our Journalists

Jesse Tinsley

Meet Jesse Tinsley. As a certified drone pilot, this veteran Spokesman-Review photographer often can be seen capturing beautiful aerial photographs of our region. Sometimes though, the job requires getting down with the dogs.
Jim Meehan

Jim Meehan is no stranger to Zag Nation. As the lead writer covering the Gonzaga men’s basketball team, he tells the stories behind the game and gets fans a bit closer to their favorite players.
Molly Quinn

There is no artist in Spokane like Molly Quinn. Her whimsical style is instantly recognizable to readers of The Spokesman-Review. She has painted gorgeous illustrations that instantly elevate the journalism accompanying it. She brings to life the stories that defy photography. She makes our pages better.
Rob Curley

Spokesman-Review editor Rob Curley loves to talk with people and learn about their lives, whether it's a best-selling author or a stranger he meets downtown on his walk to lunch. It's that inquisitive nature combined with a playful sense of storytelling that helps make our newspaper different than most.

Cavanaughs Wraps Up Hotel Purchase

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

Trump adds Iraq to special envoy Tom Barrack’s role in Syria

ICE agents to leave site of volatile protests at New Jersey detention center

Americans hurt in Kuwait as Trump sends mixed signals on war