Ramada Inn sells at auction for $1 million

February 24, 1996|By FROM STAFF REPORTS

The Ramada Inn Inner Harbor, an 87-room hotel at 8 N. Howard St., was sold at auction yesterday for $1 million to out-of-town investors.

The successful bidder declined to identify himself or discuss his plans for the seven-story building, which opened in the early 1900s as the Howard House Hotel. Auctioneer Bill Fox, of Michael Fox Auctioneers, said the bidder represents an investment group from Batavia, N.Y., that owns other U.S. hotels.

The auction was a foreclosure sale on behalf of Trisun Investment Group of Pikesville. The previous owner was Summit Investment Group Ltd., a Florida-based group that filed in 1995 for reorganization in U.S. Bankruptcy Court.

The hotel will remain open until the sale is ratified by the court, a process that will take about 45 days. Ramada has discontinued its affiliation with the property, Mr. Fox said.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.