A longtime Moraine hotel property will undergo extensive renovations this summer and become part of a new brand as part of its recent acquisition.
The former Knights Inn at 2450 Dryden Road in Moraine was purchased in April by Cincinnati-based group Shabdkosh Ganesh LLC, with financing for the purchase facilitated by Cornovus Capital in Cincinnati, which provides financing solutions for hospitality and other commercial real estate properties.
Cornovus Capital Managing Partner Jerry Dehner, who is also part of the ownership group and is leading the project, said the hotel is now part of a Red Roof Inn franchise agreement and will be renamed the Red Roof Inn Dayton-Moraine/University of Dayton. Construction began on the hotel in April, and is expected to be completed in late June or early July.
Dehner said the roughly 25,000-square-foot hotel is being “completely redone,” including all of the rooms, the lobby, parking lot, and exterior facade. Dehner said the investment to renovate the hotel will be an estimated $1.5 million.
Erie, Pennsylvania-based American Resort Management will serve as the property manager for the hotel. Laura Salisbury, ARM vice president of sales and marketing, said renovations to the guest rooms will include new “greige scheme” furniture not currently in any Ohio Red Roof Inn locations; new LED lighting; new quiet high-efficiency HVAC units; white quartz vanity tops and Moen fixtures in the bathrooms; and new flooring.
Multiple USB outlets will be located in both guest rooms and common areas, and the hotel will feature high-speed WiFi as well, Salisbury said. The hotel will likely be open for guests by mid-July.
“Guests can expect comfort and value in a newly renovated Inn with comfortable rooms, great WiFi, and personal service, all in a convenient location,” Salisbury said.
The hotel will have 76 rooms upon completion, and will employ between 15 and 19 people, he said. The ownership group is working with General Contracting Partners and Shackelford Co., both of Cincinnati, for general contracting and subcontracting needs for construction.
“The renovations will include upgraded finishes to meet Red Roof Plus standards,” Dehner said. “It will also have an expanded lobby and an outdoor common space at the back of the property.”
Dehner said the new ownership group felt the Dryden Road property was “a great investment,” adding the area is in need of a hotel offering rates in the $79-90 range. The hotel’s location, in close proximity to Interstate 75, the University of Dayton Arena and the Fuyao Glass America plant, also made it an appealing investment, he said.
“You have a tremendous level of businesses, industries, and hospitals nearby,” Dehner said. “And the quality of the rooms will be excellent.”
The property sits near the intersection of Dryden Road and Arbor Boulevard, less than a mile from The Mandalay Banquet Center. Michael Davis, Moraine economic development director and acting city manager, said the city hopes investment in the hotel will help to spur further development along Dryden Road.
“The $1.5 million in investment will encourage continued investment in that quadrant of Dryden Road, and will hopefully inspire further redevelopment of the adjacent area including neighboring properties that the city has designated and put emphasis on for maintenance and redevelopment,” Davis said.
Davis said other significant investments in the Dryden Road corridor by companies such as Dayton Power & Light, Globe Food Equipment, Southpaw Industries, and American Thermal Instruments have “set the foundation for ongoing investment” in Moraine.
The New Albany, Ohio-based Red Roof Inn was acquired by Westmont Hospitality Group, one of the world’s largest privately-owned hospitality corporations, in a joint venture in 2011. After the acquisition, the economy hotel chain began expanding rapidly; in 2013, Red Roof Inn operated 350 hotels, and today operates over 600 locations, according to Columbus Business First.
In addition to the new Moraine location, Red Roof operates six Dayton-area locations, including in Miamisburg, Fairborn and Huber Heights.