While The Greenbrier Resort and its labor unions have not reached a contract settlement, the two parties did sign a “no strike, no lockout” agreement through January 4, 2009, or until a new contract has been signed—whichever comes first.

The “no strike, no lockout” agreement means that there will be no work stoppages or disruptions while the two sides hammer out a deal. The Greenbrier Council of Labor Unions, which represents nine unions that work at the hotel, or about two-thirds of workers, has been working without a new contract since the last contract expired January 31, 2008. The union had authorized a strike, but that vote is superseded by this agreement.

“Both The Greenbrier and the Council of Labor Unions feel that this is a positive step and are hopeful that this assurance may provide an opportunity to recover lost group business and improve business levels for the resort, therefore leading to greater opportunities for employees to work,” said the two parties in a joint statement.

The uncertainty had led to several groups canceling their meetings at the resort, which is located in White Sulphur Springs, W.V. One of the groups that canceled is the Council of Insurance Agents and Brokers. The association has held its annual meeting at the Greenbrier every year since 1913. The 2008 conference, October 4-8, will be moved to the Ritz-Carlton, Lake Las Vegas, and the Loews Lake Las Vegas resorts, the association announced last week.