According to Tom Hamm - national director - hospitality of Sperry Van Ness (www.svnhotelsforsale.com), 71-unit Days Inn Hotel was sold to Viththal, LLC for $2.425 million. SBA financing was provided by Freedom National Bank. The seller, Lighthouse Laning Street, LLC is an entity of a California-based private lender.
Originally built as a Howard Johnson in 1965, the hotel operated as a Red Carpet Inn prior to foreclosure by the lender. In consultation with Hamm, Lighthouse installed professional management, completely renovated the hotel and reflagged it as a Days Inn. The repositioning program drove occupancies from about 15% prior to the foreclosure to over 80% recently, accompanied by high guest satisfaction scores.
The hotel is located off of exit 32 of I-84. In addition to the guest rooms there is a meeting room and business center.