BATESVILLE, AR (KAIT) - HotelBrokerOne announced on Wednesday, July 13, that two hotels in Batesville were sold.
The Holiday Inn Express, 1130 White Dr., and the Ramada Inn, 1325 North St. Louis St., were sold by JB Hotel Group LLC of Batesville.
The Holiday Inn Express sold for $4.05 million and the Ramada Inn sold for $2.85 million.
The hotels will keep their franchise status and both will undergo improvement. The Holiday Inn Express expects to undergo $1 million worth of renovations.
"The Express was re-licensed under the condition of meeting Holiday Inn Express' new Formula Blue standards, which will continue to make it the premiere hotel in Batesville," said HotelBrokerOne Vice President Ted Holmes.
JJ Global LLC and Hotel Investment Ltd. Liability Company, the companies who bought the hotels, own other hotels including the Holiday Inn Express in Jonesboro.
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