Historic Fayetteville Hotel on Auction Block, Again
Posted October 8, 2007 10:46 p.m. EDT
Updated October 8, 2007 11:17 p.m. EDT
Fayetteville, N.C. — The Prince Charles Hotel in Fayetteville is about to hit the auction block again, after years of poor management and neglect.
The building built in 1926 has artfully designed columns, rooftop lamp posts and a stone facade around the front door. It is constructed of brick and is eight floors tall.
Jewelry store owner Bob Dees hears a lot of complaints about the Prince Charles Hotel from customers staying there.
"The stories have been terrible,” Dees said. "One woman even said she had water dripping through."
In his shop, just down the street from the historic hotel, Dees listens to tales of broken air conditioners, phones that do not work and poor service.
"It's a glorious hotel. We had fabulous parties and benefits here. It was really a wonderful spot," Dees said.
Even the exterior of the hotel shows signs of neglect now, however. Paint is peeling, and the awnings are falling apart.
The hotel was the centerpiece of a bustling downtown Fayetteville during its heyday. Then, historians say, it declined and hit rock bottom in the '70s.
"The hotel was full of drug dealers and prostitutes,” Bruce Daws, manger of historic properties for the Fayetteville Historic Resources Commission, said.
It was forced to close, but investors renovated the Prince Charles in the '90s, and the future was bright again. Then recently, the hotel's owner filed for bankruptcy. The bank holding the mortgage plans to auction the hotel next week.
Travel reviews online confirm reports the Prince Charles Hotel is in bad disrepair. A Fayetteville investor estimated it would cost at least $1 million to get the old building back to national franchise standards.
The auction is scheduled for Oct. 16 at 10 a.m.