WHI Announces Sale of the Red Roof Inn Jamestown-Falconer
Warmbrodt Hotel Investments (WHI) announced today they closed the sale of the Red Roof Inn Jamestown-Falconer, in western New York. The property was sold on behalf of the institutional owner for an undisclosed price. The purchaser will retain the Red Roof Inn franchise and renovate the property to new NextGen standards. The disposition is part of Red Roof Inn’s ongoing initiative to improve the brand and grow awareness nationally.
Consistently rated among the leaders in guest satisfaction by J.D. Power and Associates, Red Roof has invested extensively in capital improvements and brand awareness with the implementation of a new development team. They expect to expand to 400 properties by the end of the year. The recently announced brand extension, Red Roof PLUS+, shows how the company continues to innovate.
“Our clients have done an outstanding job of improving Red Roof Inn in every facet of hospitality,” commented Zane Varvel, Vice President of WHI’s Chicago office. “The Jamestown buyer is a partnership of existing Red Roof franchisees who recognize the potential of the brand’s continued growth and performance. It has been a pleasure helping and learning from everyone involved.”