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Show The Enterprise Review , December 22, 1976 Page 5b Bankruptcy Sale Brings $4.2 Million for Royal Inn The Royal Inn of Salt Lake City may have a new owner by the end of December. According to J. Terence OMalley, a San Diego attorney, representing the trustees of Royal Inn of America, Inc., the federal bankruptcy court of San Diego has approved the sale of the Salt Lake Royal Inn to International Dunes Co., an Oregon partnership, for $4.2 million. The sale was authorized Dec. 16. The sale price includes assumption of an existing $2.8 million mortgage, a promissory note for $477,000, and $900,000 cash. OMalley said the purchase included the hotel, the lease-hol- d interest and real property underlying the hotel, previously owned by McCullogh Enterprises of Salt Lake City. The real property accounted for $700,000 of the $900,000 cash, OMalley said. Royal Inns of America has been in Chapter X bankruptcy proceedings for about ten years, OMalley said, and had been general partner of the Salt Lake hotel. OMalley said final papers have not yet been signed by owner and seller, but, he added, he expects the transaction to be finalized by the end of this month. Groups Band Together in Lake Ad Campaign Utah industries located along the south shore of the Great Salt Lake are spending approximately $50,000 to stir public sentiment about the problems related to the rising levels of the south arm of the Great Salt Lake. Seven industries and organizations have joined the Save Our Shore group whose ultimate objective is to modify the Southern Pacific causeway that has bisected the lake since 1956. The project would cost about $2.8 This is an Aerostat Hired by SOS to spread the word, Gillham Advertising, Salt Lake, has undertaken a two month television and print campaign as part of a plan to reach that goal. Gillham has bought television time on all three major Utah stations for a one month series of 60 second spots. Craig Ogar, public relations specialist for Gillham, said about 35 percent ($16,000) of the SOS campaign money is being spent on TV. Another five percent ($2,500) is being spent on print ads in Salt Lakes two major daily newspapers, the Ogden daily, Tooele bi- weekly and weeklies in Brigham City, Davis County and Tremonton. The re- be maining $31,000 films on for civic and spent community groups and print will brochures. The SOS group consists of American Salt Co., Hardy r QQ It is also an Investment Tax Credit With the purchase of this plane, or any of our other Pipers and Aerostars, you receive not only a fine aircraft, but a substantial investment tax credit. In fact, this credit is frequently enough to cover the down payment. And, for those who act before December 31, there are even a few leaseback opportunities available. For more information, call Ralph Mitchell or Scott Leishman at 359-208- 5. Salt, Morton Salt, NL Industries, Sanders Brine Shrimp Co., the Tooele County Commissioners and the Utah Wildlife Federation. The organization, formed specifically for advertising pur- poses, advocates the opening of a 300 foot channel through the causeway. Engineers a such favoring project say the job would take about 18 months to complete and would incapacitate the causeway for about six months. SOS has suggested Southern Pacific use the existing wooden trestle spanning the lake while the causeway is out of commission. That tcstle is being used periodically to carry trains over the lake. The Gillham agency created two TV ads: One specifically advocates opening the causeway, the other, receiving greater emphasis, discusses general problems created by the rising waters. The two ads together will air about 55 times through November and December. Convention Bureau Scouting Ad Agencies The Convention and Visitors Bureau will be sur- INTERWEST AVIATION AIRCRAFT SALES - SERVICE AIR AMBULANCE CHARTER SERVICE 24 HR. AIR CARGO FLIGHT TRAINING AIRCRAFT RENTAL 5 call 295 N. 2400 W. 359-208- veying seven local advertis- ing agencies to determine their potential interest in developing a $65,000 campaign for the Bureau. Based on responses to the survey, the Bureau will choose three agencies to present their plans and ideas to the Salt Lake County Development and Promotion Board for a final selection. |