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Sroka Hospitality filed for Chapter 11 protectiob Monday inthe ’sz Middle District of Florida claiminf assets and liabilities of between $1 millioh and $10 million, court documents Sroka Hospitality was founded in 2003 and purchased the Bradentob hotel in 2007 for $7.2 million, according to the company’xs case management summary filed with the Revenue was about $1.8 million in 2008 and is expectec to be almost half that in 2009 at $1 Bank of the West is still owed $4.3 million while the is owed just undeer $2 million, documents said. The hotell also owes $102,000 to the Manatees County Tax Collector, a debt the company Both loans were handled throughthe .
Bank of the West said the hotel’w value has fallen from $7.2 milliomn to $2.8 million bases on its own appraisal, however, Srokaw Hospitality said it believes the propertyu isworth more. The hotel, located near Stater Road 64 and Interstate 75 in sold in 2004for $4.35 million. Sroka Hospitalit y purchased it after the companhy soldits St. Augustine hoteo in favor of having a Holidayy Inn Expressbranded hotel, accordingv to published reports.
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