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Tailors Lodging Corp. Purchases Alcoa, Tennessee Hotel, Family Inns
of America, Once Owned by Ken Seaton, for $1.3 Million

By Josh Flory, The Knoxville News-Sentinel, Tenn.McClatchy-Tribune Regional News

Sept. 06, 2011--A family with roots in the Knoxville lodging business has purchased a pair of Alcoa properties once owned by Ken Seaton.

Tailors Lodging Corp. bought the Family Inns of America, at 2450 Airport Highway, for $1.3 million, according to the Blount County Register of Deeds. The same office said Tailors Lodging also purchased a pair of commercial lots near Airport Highway for $300,000.

Ken Tailor, a member of Tailors Lodging, said he also has the MainStay Suites on Merchant Drive and the America's Best Value Inn on Magnolia Avenue. Tailor said the new owners plan to make improvements at the Alcoa hotel and in the future expect to develop something on the vacant lots, although he didn't give details.

East Tennessee hotel magnate Seaton, who recently faced legal trouble over unwanted sexual advances to women, said in an earlier interview he is retiring and selling some of his hotels.

Earlier this year, Alley Auction advertised a sale of multiple East Tennessee properties -- described as Ken Seaton holdings -- although Tailor said his firm bought the Alcoa properties before the scheduled auction.

According to a Blount County official, the seller on the commercial lots was an entity called Dandridge One Inc.

In July, an entity called Rock Pointe Development LLC submitted the winning bid for a Family Inns of America on Rutledge Pike. That $445,500 sale has not yet closed, although auctioneer David Alley said the deal will probably be finalized this week. An attorney listed as the registered agent for Rock Pointe said in an email last month that he couldn't disclose any information about the entity.

As for other properties that were advertised as part of the auction, a Family Inns of America on the Parkway in Pigeon Forge, was sold for $891,000, while a hotel building in Caryville was sold for $294,800. According to Sevier and Campbell county officials, the seller on those transactions also was Dandridge One Inc.


(c)2011 the Knoxville News-Sentinel (Knoxville, Tenn.)

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