Holiday Inn Marlborough sells for $11M
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The Holiday Inn in Marlborough is reportedly planned for extensive renovations under new ownership.
The Holiday Inn in Marlborough has sold for $10.9 million to an Illinois hospitality company.
The four-story, 173-room hotel on Route 20, which was built in 1970, was bought by Spire Hospitality of Illinois, part of the real estate firm AWH Partners of New York. Spire also bought Holiday Inns in Peabody and Dedham, according to the industry website Hotel News Resource.
The three Holiday Inns are the first Spire Hospitality properties in New England, according to the company's website. The company plans extensive renovations to each of the hotels, including guest rooms, common areas and meeting space, Hotel News Resource reported.
The Marlborough sale closed Nov. 26. The property at 265 Lakeside Ave. was last assessed at $6.4 million.
The hotel was sold by MF Investment Co. of Ludlow. That company is run by Michael Crowther and Frederick Szlosek, both of Ludlow.
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