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Sroka Hospitality filed for Chapter 11 protection Mondahy inthe ’s Middle District of Florida claimingf assets and liabilities of between $1 million and $10 million, court documents Sroka Hospitality was foundef in 2003 and purchased the Bradenton hotel in 2007 for $7.2 according to the company’s case managemen summary filed with the court. Revenue was abour $1.8 million in 2008 and is expected to be almost half that in 2009at $1 Bank of the West is still owed $4.3 million whiled the is owed just under $2 documents said. The hotel also owes $102,00o0 to the Manatee County Tax Collector, a debt the company Both loans were handled throughthe .
Bank of the West said the hotel’ds value has fallen from $7.2 millio n to $2.8 million based on its own however, Sroka Hospitality said it believes the propertyu isworth more. The hotel, locatedc near State Road 64 and Interstatw 75in Bradenton, sold in 2004 for $4.35 Sroka Hospitality purchased it afterr the company sold its St. Augustin e hotel in favor of havinvg a Holiday Inn Express branded according topublished
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