Yorktowne Hotel sale canceled

The June 13 public sale of the Yorktowne Hotel has been canceled.

"In the past, the sale was simply rescheduled to a later date," Rick Cunningham, general manager of the hotel in York. "While we can not speak for the bank, it is our opinion that the negotiations between the bank and our owners have reached the point that a final resolution is in sight."

Late last year, PNC filed a complaint with the York County Court of Common Pleas that the York Hotel Group had defaulted on its loan for the hotel and owes $5.26 million, which includes the principal, interest, attorneys' fees and late fees.

At that time, the bank had scheduled the 86-year-old hotel to be sold at sheriff's sale Feb. 7.

Roughly two weeks prior to that sale, both PNC Bank and The York Hotel Group agreed to postpone the sale of the hotel until April.

That sale in April was later postponed until June 13.

"From what we gather, it's the bank's intention for the hotel's operations to continue to serve the community at the highest possible level," Cunningham said. "We think this is great news and we look forward to continuing to serve the city and county of York and the Susquehanna Valley."