RUDRA MANAGEMENT, LED by Jayesh Patel, recently acquired an old Red Carpet Inn in Tonawanda, New York, with plans to reposition it as an independent hotel.
Those plans depend, to some extent, on reopening the nearby Canada-U.S. border, but Patel said the delay on that reopening is better than risking a resurgence in the COVID-19 pandemic.
Patel, whose Cheektowaga, New York, company already owns more than 50 hotels, acquired the hotel for $1.125 million through Gurusaheb LLC from Haripriya Inc., according to local media. Milan Patel, also with Rudra Management, helped arrange the deal.
“This has been a troubled property for probably the past year, year and a half,” Jayesh Patel said. “That’s how I come across that there was somebody wanting to get rid of it and I had an appetite to purchase it.”