French Quarter Inn sale falls through - FOX13 News, WHBQ FOX 13

French Quarter Inn sale falls through

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    Friday, October 4 2013 3:43 PM EDT2013-10-04 19:43:45 GMT
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MEMPHIS, Tenn. (FOX13) - -

A deal to sell the French Quarter Inn at Overton Square is off.

Texas developer ASC Management had tentatively agreed to buy the 105-room hotel, and even put down some money up front.

But according to the Memphis Business Journal, the deal was not closed by today's deadline.

This is not the first time a deal to sell the closed hotel has failed.

In 2012, the hotel was nearly sold to a group who wanted to turn it into a Comfort Suites, but the potential buyers walked away after neighbors opposed anything less than a more upscale hotel.

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