The Justice Family Group has set up a joint venture (JV) with Kennedy Lewis Investment Management for The Greenbrier, looking to bring financial stability to the resort in West Virginia, US. The deal aims to support the resort's long-term plans while providing funding and operational expertise. The Greenbrier has also been authorised by the West Virginia Lottery Commission to keep its casino operating while the regulator completes its review of the transaction.
Resort representatives said they seek to work "cooperatively" during the review. In a post on Facebook, state governor Patrick Morrisey said that Kennedy Lewis, a New York-based private credit company, now holds majority ownership of the resort. The post stated: "I have asked the Lottery Commission to take all necessary steps to prevent the loss of Greenbrier employees during this transition of ownership." In connection with the transaction, Kennedy Lewis has named Lloyd Nathan as chair of The Greenbrier's board of directors.
Nathan has worked in gaming, hospitality, investment, large-scale development and property, including almost ten years at MGM Resorts International. Nathan said: "The Greenbrier is one of the truly irreplaceable destination resorts in the United States. Very few properties can match its history, natural beauty, scale, amenities and emotional connection with generations of guests.
Our intent is not to change what makes The Greenbrier special but to invest in its future, enhance what makes it exceptional and ensure America's Resort continues to thrive for generations to come." During the transition, the resort will stay open and continue normal operations. Existing reservations, meetings, conferences, weddings and other scheduled events will go ahead as planned. The Justice Family acquired The Greenbrier out of bankruptcy in 2009.
"Justice Family and Kennedy Lewis form Greenbrier JV to stabilise finances" was originally created and published by Hotel Management Network, a GlobalData owned brand.
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