Three Spokane hotels—the Madison Inn, the Courtyard by Marriott, and the Wingate by Wyndham—have changed hands in the past few months.
The recent string of hotel sales is more of a coincidence than a trend, however, contends Jerry Dicker, president and founder of GVD Hospitality Management Services Inc.
Most recently, Ruby Hospitality, a subsidiary of GVD, acquired the 79-room Madison Inn through Providence Health & Services Washington, on Nov. 14.
Dan Zimmerer, president of Ruby Hospitality’s hotel division, declines to disclose the purchase price of the hotel, which is located at 15 W. Rockwood Blvd., just south of Providence Sacred Heart Medical Center.
The Madison Inn’s proximity to the medical center, as well as to Providence Sacred Heart Children’s Hospital and other medical facilities in the area, made it an attractive addition to Ruby Hospitality’s other hotel properties, Dicker says.
Dicker adds, “We’re always looking for an opportunity to expand the hotel business.”
Some of Ruby Hospitality’s other Spokane properties include Hotel Ruby, at 901 W. First; Montvale Hotel, at 1001 W. First; Ruby River Hotel, at 700 N. Division; Bing Crosby Theater, at 901 W. Sprague; and Ruby Suites, at 1120 N. Division.
In 2021, the hospitality company purchased the historic Steam Plant Square commercial complex, which now includes the Steam Plant Hotel, at 123 S. Post, and Steam Plant Restaurant & Brew Pub, at 159 S. Lincoln.
The newly acquired Madison Inn will include medical-stay options for patients, patients’ families, doctors, and nurses visiting the nearby medical facilities, Dicker says.
“Our investments are designed to help the community,” he says.
Ruby Hospitality is planning some interior and exterior renovations at its newest property, Zimmerer says, including upgrading the furnishings, signage, and landscaping work.
Amenities at the Madison Inn will include full breakfast services and a fitness center, as well as access to the nearby Ruby River Hotel’s resort-style pool, Zimmerer says.
On Nov. 2, just 12 days before the Madison Inn transaction, Prosper, Texas-based Flight Deck Spokane LP sold the Wingate by Wyndham Spokane Airport hotel to Fargo, North Dakota-based Tharaldson Hospitality Management LLC, which also owns the neighboring Springhill Suites by Marriott Spokane Airport hotel.
Rich Cane, president of Flight Deck, declines to disclose the sale price of the Wingate hotel.
Cane and his partners opened the hotel in 2009 at 2726 S. Flint Road, on property owned by Spokane International Airport.
Cane, a former resident of Spokane, says he had been trying to sell the hotel since 2019, but had a couple other deals fall through.
“My partners and I are all in our 70s, and we’re just too old to operate it now,” he says.
Employees of the Wingate hotel will remain on staff under the new ownership, Cane says.
Tharaldson Hospitality owns over 80 hotels across 20 states, according to the company’s website.
In September, Lake Oswego, Oregon-based BHGAH 401 N. Riverpoint SPK LLC, a subsidiary of BHG Hotels, acquired the Courtyard by Marriott Spokane Downtown at the Convention Center hotel from New York-based Marcourt Investments Inc.
Jatin Patel, a principal and regional manager for BHG, declines to disclose the purchase price of the Courtyard hotel, however, tax information on file with Spokane County shows a recent sale price of $20.2 million.
Located on the south bank of the Spokane River, just east of the Spokane Convention Center, at 401 N. Riverpoint, the Courtyard hotel is BHG’s second Spokane hotel. It also owns the Holiday Inn Spokane Airport hotel, at 1616 S. Windsor Drive.
“We’re happy to be able to grow our presence in Spokane,” Patel says.
BHG is planning interior and exterior renovations to the building, which was built in 1989, Patel says. The extensive external work, including building a new entryway, will help modernize the hotel, Patel says.
There is no exact timeline for the renovations of the Courtyard hotel, but Patel says he expects work to begin sometime next year. He estimates that there will be about $2 million worth of work done to the hotel.
BHG also plans to renovate the 122-room Holiday Inn, a permit application on file with the city shows.
“It’s been about 10 years now, so we’re ready to do a renovation to modernize our guest rooms,” Patel says. “Typically, hotels renovate every 10 or 12 years.”
BHG purchased the Holiday Inn in 2013.
The renovation project, which has a proposed valuation of $1 million, will include new flooring, tile, carpet, paint, bathrooms, and countertops throughout the entire hotel, Patel says. It also will include replacing some furniture and TVs, as well as updates to the lobby, meeting rooms, and breakfast area.
The Holiday Inn renovations are expected to begin early next year and should take about four months to complete, Patel says.
“Our goal is to minimize the impact on the business,” he says. “We typically stage the construction.”
Furniture Fixture Services Inc., of Gresham, Oregon, is the contractor on the Holiday Inn renovation project, and Dallas-based Pickard Design Studio is handling design services, Patel says.
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