The 206-room Four Points hotel was opened in 1973 and operated as a Canterbury Inn until it was flagged a Ramada Inn in 1986. The hotel was sold in 1995 and operated under the Clarion flag until the sellers renovated it and joined the Sheraton system in 2003. It now operates as the Ramada Wichita Airport.
The Weekly Studios hotel also opened in 1973 as a Holiday Inn franchise. It was reflagged as a Ramada hotel in the 1990s, becoming an independent extended-stay hotel in 2005. The hotel was closed at the time of the sale and now operates as a La Quinta hotel.
Both hotels were very neglected and in need of significant capital improvements.
As part of a lengthy lawsuit between two partners in the LLCs that owned these hotels, our team members were hired to market and sell them via a bankruptcy sale.
One extensive regional, national, and partially international marketing campaign was conducted over a six-week period.
Investors from around the country toured the properties and participated in the auction. They ultimately sold to two separate, unrelated groups from Arizona. Both groups had plans to implement a capital improvements program and reopen/rebrand the hotels.