Chapter 8 - The Sale Was Worth Millions
The two hotel properties scheduled for sale were worth roughly $86
million together.
The buyer was a private investment group called Redmont Capital.
Daniel assumed the deal had been negotiated by Hale executives.
Then Emily noticed a familiar name in the transaction file.
Margaret’s brother, Stephen Cross, served as an adviser to Redmont.
That did not automatically make the sale improper.
But it created a conflict Daniel had never been told about.
An independent review found the proposed price was below another
preliminary valuation obtained months earlier.
The gap was significant.
Millions.
Margaret insisted the lower price reflected renovation costs.
Redmont said negotiations were arm’s length.
Daniel did not jump to conclusions.
He ordered the transaction paused.
That alone caused panic.
Vanessa called him repeatedly.
Margaret called board members.
Stephen Cross threatened to sue if the sale failed.
Emily watched all of it.
Her father’s warning finally made sense.
Richard had not left her voting rights to make her rich.
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He had left her enough power to stop one side of the family from moving
too quickly.
