Vesta Acquires Holiday Inn Lincoln, NE
AUGUST 31, 2007. Rick Takach, President and CEO of Vesta Hospitality, LLC today announced the acquisition of the 230-room Holiday Inn Lincoln, Neb., located at 141 North 9th Street in the historic Haymarket District of downtown Lincoln.
Vesta Hospitality, which has managed the Holiday Inn Lincoln for two years, purchased the hotel from Columbus Hotel Properties following a $3.5 million renovation to the lobby and bathrooms. Takach plans to add another $3 million in renovations, slated to begin in November, which will include the exterior, main elevator, common areas and all 230 guest rooms.
The hotel has 230 guestrooms and 12 meeting/banquet rooms totaling 16,829 square feet, as well as a professional event planning and catering staff. An indoor pool and fitness center, restaurant and lounge complete the amenity package.
Commenting on the purchase, Takach said, "The acquisition of the Holiday Inn Lincoln represents a solid step in the measured growth and expansion of the Vesta Hospitality portfolio. Our investment in the hotel's continuing renovation can only improve its potential for performance. We are committed to ensuring that the property re-emerges as a hotel of choice for travelers in the Lincoln market."
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