Fayetteville, N.C., hotel on auction block with $200K starting bid

The Prince Charles Hotel in Fayetteville, N.C., is going up for auction with a December 15 end date. The opening bid for the hotel is reportedly $200,000. The landmark hotel was deemed unsafe by the city in the fall of 2010, and since then it's fallen into major disrepair, reports say.

"We are hoping for a purchaser who wants to do something exciting and good for Fayetteville with the Prince Charles Hotel. I think there's a lot of potential for that," said lawyer Rob Fields, who represents owner John Chen. "Although there have been efforts for a private sale, none are in the works, and "we fully expect it to go, to be sold through an auction at this point."

As the Fay Observer reports, a group of investors, including former Mayor Tony Chavonne, attempted to buy the hotel this year. Their deal fell through after the legislature in the summer decided not to extend a tax credit program for historic properties. Chavonne has said their business model to renovate the troubled building would not work without the tax credits. The building is subject to historic property standards on construction materials and appearance, and these can be costly to follow.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


The sale is being conducted by Williams & Williams, an online auction company. The listing can be found here.

Suggested Articles

Kansas-based management and ownership company True North Hotel Group is opening four new hotels within a month.

Radisson Individuals aims to bring independent hotels and local, regional chains into the global Radisson Hotel Group platform.

This role has continued to change with some revenue managers taking on leadership roles within hotel brand and management companies.