A budget motel in Tonawanda is about to get a makeover and rebranding.
Rudra Management of Cheektowaga acquired the former Red Carpet Inn at 1900 Niagara Falls Blvd. last week, adding the 44-room facility to the collection of more than 50 hotels owned and operated by Jayesh Patel's company.
The small motel will be revamped as an independent, "mid-century modern" lodging aimed at younger travelers and will be renamed the Route 62 Motel following a $300,000 rehab, said Larry Best, a certified hotel broker with Buffalo Hotel-Realty, who handled the transaction.
"It's happening all over the country with these older motels," Best explained. "Some of the younger generation wants to get away from the chain stuff."
Located across from the CarMax dealership next to the I-290 exit ramp, the motel is "a good location for all of that, as long as it's repositioned properly," Best said.
Patel and the three other members of his investor group – which also includes Milan A. Patel – paid $1.125 million through Gurusaheb LLC, to buy the inn from Haripriya Inc. It had been on the market for just three days, with the purchase closing a month later. “This was the fastest deal I’ve ever done,” Best said.
The seller is controlled by Hatish and Bhakti Patel, who departed the Buffalo area for Texas after unloading the last of their local holdings. They had owned the Red Carpet for more than 20 years, and previously owned a Days Inn across from the Boulevard Mall, but sold it more than five years ago.