- Associated Press - Thursday, July 16, 2015

JUNEAU, Alaska (AP) - The Goldbelt Hotel is officially under new ownership as the hotel’s previous owners shift their focus to other business ventures.

Goldbelt Inc. finalized the sale of the hotel to YC Riverside Hotel, LLC Tuesday, reported The Juneau Empire (http://bit.ly/1gDLRp0).

The sale of the hotel comes as the company transitions from the tourism and hospitality industry and moves toward “government contracting and developing businesses that can provide greater employment opportunities for (its) shareholder base,” Goldbelt President and CEO Richard Irwin said in a statement.

Goldbelt board member, Randy Wanamker, told the Empire in March that selling the hotel would be a good move for the company.

“We have customers at the hotel, but we don’t have small boat companies or other things feeding into them as planned,” he said during a March 13 interview. “A hotel is better managed and operated when it’s part of a system. (An entity) that has a hotel system that can cross-feed guests to one another is really quite an efficient, a good operation.”

Wanamaker said the corporation will now focus on other business development in Alaska and the Pacific Northwest.

Goldbelt Inc. purchased the Goldbelt Hotel in 1997. The Juneau corporation has more than 3,600 shareholders and was established under the Alaska Native Claims Settlement Act of 1971.

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Information from: Juneau (Alaska) Empire, http://www.juneauempire.com

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