ZMC Hotels Up For Sale

DULUTH - A big time hotel management company in Duluth is looking to sell everything it has.ZMC Hotels started in Duluth and now owns more than 28 hotels throughout the country. The well-known Goldfine Family currently owns the company and has for 40 years. They're looking to hand over the $200 million company to another developer. Leaders with ZMC say now is the time to sell because hotel values are at the highest they’ve been in years, and it feels like the natural time to explore their options. Officials say there's a 50 percent chance the sale will happen, and if it does some may be out of a job."There might be some closure of this office, but all the hotels, the new owners would need employees,” explained President/CEO of ZMC Hotels, Todd Torvinen. “I think virtually every employee at every one of our hotels, especially in light of the unemployment rates right now, would be rehired." ZMC Hotels being built in Superior and Hibbing will not be affected by the sale.