Red Roof Inn – Detroit-Plymouth, MI – SOLD by WHI
Warmbrodt Hotel Investments, Inc. (“WHI”) is pleased to announce the sale of the Red Roof Inn – Detroit-Plymouth, Michigan. WHI acted as exclusive advisor on behalf of the seller.
“A silver lining in markets challenged by financing has been the absence of new supply. In Detroit, this environment has existed for several years, providing healthy operations to existing inventory. Consequently, well located and strong performing properties become an attractive investment ,” said Zane Varvel, Vice-President of WHI.
The 109-room, two-story, exterior-corridor property, consisting of two buildings, was built in 1975 and is located on Interstate 275 and Ann Arbor Road west of downtown Detroit and Northwest of Detroit Metropolitan Airport. The Detroit-Plymouth property will be renovated to new standards and maintain the Red Roof Inn franchise.
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.