The state of Alaska is selling one of its retired ferries to an Oregon developer who wants to turn it into a floating hotel.
The state was auctioning off the ferry 'Taku', which has been out of service since 2015.
The ferry is 352-feet long and was built in 1963.
Although all the bids for the ferry were below the state's reserve price of $350,000 dollars, the state opted to accept the $300,000 dollar bid from Key-Mar LLC, which was far higher than the other two offers.
The Portland-based group says it plans to make the ferry into a floating hotel that would be docked at a pier in Oregon's largest city.