Eagle Hospitality Trust, which oversees several corporations that operate the Queen Mary and own hotels in Pasadena, Anaheim and Palm Desert, filed a motion in federal court yesterday to auction off several of its properties, including its lease for the legendary ship that makes its home in Long Beach, Calif., the Long Beach Press Telegram reported. The filing came as part of the chapter 11 bankruptcy process, which kicked off in January when several affiliates of Eagle Hospitality Trust — including the corporations that run hotels across the Southland — notified the Delaware district of the U.S. Bankruptcy Court of their intent to restructure. The bankruptcy court is scheduled to weigh in on the motion, and possibly approve it, on Tuesday, March 23. The proposal from Eagle Hospitality Trust noted that the New York capital investment fund Monarch Alternative Capital has bid a total $470 million for the corporations that own or manage the Embassy Suites by Hilton Anaheim North, the Holiday Inn Hotel & Suites Anaheim, the Sheraton Pasadena and the Queen Mary, as well as 11 other hotels across the state and country. If the motion is approved by the court, those companies would tentatively be listed for auction on May 20, with Monarch Alternative Capital’s bid being the minimum offer.
