Red Roof Inn – Detroit Airport West, Belleville, MI – SOLD by WHI
Warmbrodt Hotel Investments, Inc. (“WHI”) is pleased to announce the sale of the Red Roof Inn – Detroit Airport West, Belleville, Michigan. WHI acted as exclusive advisor on behalf of one of its institutional clients.
Red Roof Inn consistently achieves high rankings in J.D. Power & Associates Guest Satisfaction Index Studies in the economy budget segment. The company has been expanding their franchise platform by selling certain assets to qualified franchisees. In conjunction with their $90 Million dollar renovation initiative, Red Roof is strategically implementing the NextGen redesign for all their properties. The property in Belleville will be renovated to new standards and maintain the Red Roof Inn franchise.
“Over the past 12 months we have seen an abundance of interest from hotel investors in the Detroit market on several transactions. It is exciting to see the turnaround, as Detroit is hopefully a leading indicator for the rest of the country,” said Zane Varvel, Vice-President. “The property performance and brand draw continued investor interest for good, consistent cash flow”.