Spokane-based GVD Commercial Properties Inc. says it has bought the Rodeway Inn, in downtown Spokane, and plans to convert it this year to a boutique-style hotel.

Gerald Vance "Jerry" Dicker, the company's president, says the planned remodeling project will cost around $1.5 million to $2 million, and will include adding a bistro in the hotel, located at 901 W. First, and remodeling all of its about 37 guest rooms. Dicker says his goal is to complement and take advantage of the property's proximity to downtown entertainment venues.

"The intent is to integrate it seamlessly with the entertainment district," including the nearby Knitting Factory concert venue and Fox and Bing Crosby theaters, Dicker says.

The hotel and bistro will be operated by GVD Hospitality Management Services Inc., an affiliate of GVD Commercial Properties, and are part of GVD's ongoing effort to launch a hospitality business, Dicker says.

"We took a time-out to establish our hotel business, and we have three hotel projects in the works," he says. "It's consistent with our game plan."

In addition to the Rodeway Inn project, GVD also has announced plans to develop a five-story suite-style hotel in the former Burgans Fine Furniture complex just north of downtown and plans to construct a new hotel in the future near Sandpoint, Idaho. Both of those hotels will be operated by GVD Hospitality. Dicker says GVD Hospitality still is negotiating with possible hotel systems, which have reservation systems, for each of the three locations.

He says he anticipates the new hotel in the Rodeway property will employ between 10 and 15 people. The hotel is currently open, and GVD is working with hotel staff on the transition. The company plans to keep the hotel open during the remodeling, if possible. Spokane County records indicate the property was previously owned by Overlook Spokane LLC, of which Jeffrey Smith is the managing member.

Nystrom Olson Collins Inc., of Spokane, is designing the project, and Mauer Construction Inc., of Spokane, and Silhouette Lights & Staging Ltd., of Spokane, will do the work, which Dicker says likely will begin in April and be completed later this year.

Dicker says that though GVD closed on the sale of the property last week and still is in the early stages of designing the project, he envisions the bistro will be added by expanding the structure onto two or three of the hotel's parking spaces and extending the eatery into the current reception area. He says he believes the theme for the hotel will lean toward music, and it likely will be renamed, though he hasn't selected a name yet.

"We'll let the architecture evolve into the name," he says.