Cavanaughs Ready To Close Olympia Deal

Sat., Nov. 21, 1998

From Staff

Cavanaughs Hospitality Corp. will close its purchase of the Holiday Inn Select in Olympia on Dec. 1.

On Thursday, the Spokane-based hotelier announced it has waived the contingencies of the purchase of the 177-room hotel, which overlooks Capitol Lake from its 12.9-acre site.

The company did not disclose the purchase price for the facility, which it will rename Cavanaughs at Capitol Lake. The property recently had a $2.5 million renovation.

This purchase brings the number of Cavanaughs hotels to 19.

In addition to its hotels, Cavanaughs provides entertainment services through G&B Select-a-Seat and G&B Presents. The company also owns and manages business, retail and residential properties.

Cavanaughs is publicly traded on the New York Stock Exchange.

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Cavanaughs Ready To Close Olympia Deal

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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