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Subpenny stock venture owns Pine Bluff Hotel: IBAC long on news, short on financial data.(Pine Bluff Convention Center Hotel)
Arkansas Business
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May 2, 2005|
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EDWARD HAYTER WASN'T particularly interested in the hospitality industry. That changed when the New York investor was approached last year about helping finance the purchase of a distressed Arkansas hotel.
One thing led to another, and his IBAC Corp. ended up as majority owner of the Pine Bluff Convention Center Hotel.
"We believe in the property down there," Hayter said. "We believe we can bring it back to life.
"The restaurant and lounge were closed when we bought it. Everything is functioning now, so we think we can restore it to its peak. We ...
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