The hotel, which will be owned by Ohio Hotels LLC and managed by Indiana Hospitality Management, will be located on a former Econo Lodge site on three acres of land in the 2100 block of Edwin C. Moses.
The land was purchased for $450,000, according to Chaudhry, who said construction could begin by this spring.
Chaundhry said he likes the location for the hotel because of its easy access to UD, downtown and surrounding neighborhoods. But he thinks the real draw will be the fresh, modern amenities.
“We know there are other hotels in downtown, but none of those hotels are new, they’re all old-style hotels,” said Chaudhry, who’s franchise opened a Holiday Inn Express in Springfield in December.
Kelly Gray, vice president of Equity Inc. in Dayton, represented the seller while Tracey Herron, Equity associate in Dayton, represented the buyer in the transaction.
Still, the competition is growing.
For the first time in decades, a new hotel is coming to downtown Dayton.
Marriott has awarded a 115-room Fairfield Inn and Suites franchise to the Water Street development, according to Crawford Hoying and Woodard Development, the developers behind the downtown project.
The seven-story hotel will complement the 50,000-square-foot office and retail building, the 215-apartment units currently under construction and the renovation of the historic Delphi building into 134-loft apartment units with first floor retail, the companies said.
Dublin, Ohio-based Crawford Hoying Development Partners and Dayton-based Woodard Development are working with international hotelier Shaner Hotel Group in the project.
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