WHI Announces Sale of the Red Roof Inn, St. Louis, Missouri
Warmbrodt Hotel Investments announced today they closed the sale of the Red Roof Inn St. Louis – Westport. The 158 room property, built in 1986, 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 property location and strong revenue history provided a good investment opportunity for local investors. As the economy continues to improve, there is ample demand and financing available,” commented Zane Varvel, Vice President of WHI.