|By Jesse Leavenworth, The Hartford
Courant, Conn.McClatchy-Tribune Regional News
Dec. 30, 2011--MANCHESTER -- A large hotel complex on Spencer Street has sold for $1.4 million and will become a franchise location for a national extended-stay chain.
Now called Spencer Inn & Suites, the seven-building, 104-room hotel will become a Studio 6 franchise by the end of January, hotel manager Ryan Klein said Friday.
Located at 191 Spencer St., on property behind the Friendly's restaurant, the hotel offers one-bedroom, 500-square-foot suites and two-bedroom, 700-square-foot suites, all equipped with kitchens, Klein said.
Klein confirmed that the new owner is Gary Patel, who also owns the Motel 6 on Hartford Turnpike in Vernon on the Manchester/Vernon line. Patel could not be reached by phone Friday.
Formerly a Clarion Hotel, the buildings and 3.7 acres of land on Spencer Street are appraised at about $6.8 million, according to town assessor's records.
The seller is listed on the warranty deed as 745 Special Assets LLC, and the deed is signed by an attorney for Aurora Loan Services LLC. The former owner had been foreclosed on, said Pamela Carrington of Aurora Bank Commercial Services. Asked about the wide difference between the appraised value of the property and the sale price, Carrington said she could not comment.
Customer recognition was the main reason to switch from a "no-name local hotel" to a Studio 6, which operates hotels with extended-stay suites across the nation, especially in the South and West. The location map on the website -- http://www.staystudio6.com -- does not list any Connecticut or New England locations.
Studio 6 and Motel 6 are among the Accor hotel group's budget hotels, according to the parent company's website --www.accor.com.
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