First Hospitality Group buys the Grand Plaza Hotel in Toledo

First Hospitality Group acquired the Grand Plaza Hotel in Toledo, Ohio.

The Chicago-based hotel developer purchased the hotel for $8.12 million, and plans to renovate the property over an eight-month period. The update is planned to recast the hotel as a four-star hotel, and First Hospitality also hopes to attach a national brand to the property.

FREE DAILY NEWSLETTER

Like this story? Subscribe to Operations & Technology!

Hospitality professionals turn to Operations & Technology as their go-to source for breaking news on guestrooms, food & beverage, hospitality and technology trends, management and more. Sign up today to get news and updates delivered to your inbox daily and read on the go.

The cost of the renovations has not yet been revealed. The property was last sold roughly one year ago for $8.5 million.

Suggested Articles

The S.C.-based restaurant group picked hospitality veteran Larry Spelts to lead its new hotel management and consulting division.

A TownePlace Suites by Marriott, a Fairfield by Marriott Inn & Suites, a Virgin Hotel and a Hyatt Place opened recently in the state.

The 878-suite residential-style hotel is located in Winter Garden, Fla., near the entrance to Walt Disney World.