The Ten-X auction for the Ramada Inn has occurred and the high bid of $2.9 million was made, but it did not meet the reserve dollar amount and thus no sale actually happened.
The building that houses 148 hotel rooms, a pool and spa, restaurant and bar and several conference rooms brought a high bid of $2.9 million. The bidder’s identity was not released by Ten-X, the real estate company that put the building on the auction site. The building was originally constructed in 1960 and operated for many years as a Holiday Inn in Indiana before it was made a Park Inn by Raddison and currently is under the Ramada by Wyndam.
The bidding started at $1.1 million.
This story is a correction of a story published earlier today that reported the sale had gone through.
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