Question:

How much is the skylon tower worth????

by Guest31917  |  earlier

0 LIKES UnLike

How much is the skylon tower worth????

 Tags:

   Report

1 ANSWERS


  1. Wikipedia:

    Costing $7 million at the time of its construction, the Skylon Tower was owned by a private partnership called Niagara International Centre, which was financed by the The Hershey Company shareholdings of Charles Richard Reese, former co-owner of the H. B. Reese Candy Company of Hershey, PA, manufacturer of Reese's Peanut Butter Cups and exclusive manufacturer of Kit Kat candy bars in the United States. Canadian Pacific Hotels was hired to operate the tower restaurants and lounges. On October 1st, 1975 CP purchased the tower from Mr. Reese and his partners for $11 million cash. The tower's summit features a verdigris-green copper roof similar to CP's other properties, including the Château Frontenac in Quebec City and the Banff Springs Hotel in Banff, Alberta. CP owned and operated the tower until 1986, when it was sold for $18 million cash to two local Niagara hotel owners, John Gruyich of Michael's Inn and George Yerich of the Holiday Inn. In 1988 George Yerich bought out John Gruyich's ownership share of the Skylon for $13 million cash, however Milicent Gruyich continues to own the land underneath the Skylon. Mr. Yerich's Skylon land lease will expire in 2064, at which time the Skylon Tower will revert back to total ownership by the heirs of Milicent Gruyich.

Question Stats

Latest activity: earlier.
This question has 1 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.