Boasting a 94% occupancy rate on Independence Day and 95% the day after, a new hotel at a luxury golf resort in Walker County has seen room stays and revenues increase dramatically in 2025, according to the owners.
This comes two months after the president of McLemore Resort, William Duane Horton, sent a letter to the then-trustee, Wilmington Trust, seeking a forbearance on bonds issued for the project, noting hotel revenues had fallen short of expectations.
But a spokesperson for the development, Robin Derryberry, said Monday neither the hotel nor the resort are in forbearance. All debt service payments are current, and any outstanding terms are under negotiation, she said.
“While there was a technical default — limited to the Cloudland at McLemore Resort Lookout Mountain, Curio by Hilton, bond financing and related to a scheduled reserve account deposit — debt service reserve funds remain in place, and bondholder payments are not affected,” she said in a statement. “This situation was anticipated, and advance notice was provided to the trustee and bondholders months ago.
“Cloudland at McLemore Resort Lookout Mountain, Curio by Hilton is now trending toward its original performance projections, and we remain confident in its long-term success.”