On Saturday March 31 the Setai’s owner representatives from Lehman Brothers entered the hotel to announce that General Hotel Management (GHM), the Singapore-based management corporation, would no longer be in control of The Setai.
Lehman Brothers has yet to release a statement explaining the incident but the President and Director of GHM, Hans R. Jenni was quoted saying, “Representatives from Lehman Brothers arrived at the hotel with armed guards and off duty sheriff officers in uniform in the early morning hours on March 31. They informed us that they were taking over the property and that General Hotel Management (GHM) was no longer welcome on the property.”
Stay tuned.
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