Ketchum hotel on fast track to auction

KETCHUM (AP) - A luxury hotel in the resort town of Ketchum that has been on the market for two years appears headed for the auction block.

The Knob Hill Inn was initially listed for $17 million when it first went up for sale. But interest among potential buyers has been scant, despite several markdowns in the asking price.

The inn, with 26 suites and a restaurant, has an assessed value $5.7 million - another sign, real estate agents say, of the depressed real estate market in and around Sun Valley over the last two years.

New York-based Concierge Auctions has been contracted to auction the hotel.