“I actually am touched,” she said cautiously. “But, of course, I retain ownership of the resort and the hotel, thanks to Hoke’s careful planning, and not even you and your frat buddy can find a way to take that from me.”
She took a sip of her coffee, but it had gotten cold.
“Despite what you think, I’m not some vindictive SOB. Just a savvy businessman who learned from the best. And my sole aim is to protect the long-term financial health of my family’s legacy.”
“What do you think I’ve been doing since the day Hoke died? I’ve not only protected the Saint’s legacy, I’ve enhanced it.”
“Come on, Traci, don’t you think I’m keeping an eye on your bottom line? I happen to know your occupancy rates for May were down significantly from last year, while your operating costs are up. And last year’s revenues were flat. Right?”
How the hell did Ric know so much about her bottom line?
She counter-punched. “How many of those egregiously overpriced building lots did you sell last year, Ric? What’s the vacancy rate of your new retail shopping center? Seems like I’m seeing a lot of empty storefronts over there. Lots of unsold units in your fancy new townhouse development too.”
“I don’t even know why we’re having this discussion, but I will say interest rates have been a challenge. I’ve hired a new sales director, and I’m confident that our long-term forecast is great.”
“Yippee for you.”
“Look, I didn’t call you for some penny-ante debate. I just wanted to play fair and let you know that things are about to change.”
It was warm in the kitchen with the morning light streaming in, but she felt a cold chill traverse her body.
“What are you talking about? I own the hotel and resort. There’s nothing you can do to change that.”
“True. But the real estate your failing hotel and resort are sitting on belongs to the holding company, of which I’m now the majority partner. In essence, I’m your landlord. When Dad formed the holding company, he set up a long-term leasing arrangement for Hoke for a largely symbolic one-dollar-a-year rent. That arrangement lapsed with Hoke’s death, but Dad believed it would have been cruel to renegotiate the lease at that point.”
Traci was quiet. She felt numb. Since the day her father-in-law died, she’d been essentially holding her breath, waiting for Ric to put his cards on the table. Now he’d done that, and his intentions were clear. One way or another, he would either push her out or buy her out of her hotel.
“So. It’s been, what, four years? Given the current economic climate, which you just noted, Saint Holdings is going to have to renegotiate our lease agreement.”
The coffee she’d drunk earlier burned in her stomach.
“Traci, are you there?” Ric couldn’t disguise the glee he felt, delivering this bombshell.
“I’m here.”
“Great. Well, if you look in your email inbox, you’ll see I’ve sent you a copy of the will. Everything is set out in it. We’ll be in touch soon with the terms of your new lease.”
Traci poured a fresh cup of coffee and called Andy Plankenhorn.
“Andy? I’m sorry to call you on a Sunday morning, but it’s kind of an emergency.”
“Hello, Traci.” She could hear him chewing. “It’s all right. Forgive me for talking while I eat, but Georgia’s biscuits just came out of the oven.”
“I can call back later.”
“Not at all. What’s the emergency?”
“Ric just sent me a copy of Fred’s new will. I’ve forwarded it to you.”
“Oh dear. I don’t like the sound of that.”
“It’s… I can’t…” She had to pause to take a breath, willing herself not to dissolve in tears.
She recounted the conversation she’d just had with her brother- in-law.
Andy sucked in his breath sharply. “Ouch.”
“He’s going to gouge me, Andy. Raise the rent to an impossible rate. Somehow, he knows our profits are down and costs way up. He’s been waiting all this time to pounce, and now, his moment has arrived.”
