WATERLOO, Iowa (KWWL) – In less than a year’s time, the former Ramada hotel was purchased and renovated into a Best Western Plus Executive Residency.
The two name hotel represents two brands in the hotel industry. The hotel includes standard rooms and apartment-style rooms for extended stays. Thursday, was the grand opening to the public after 10 months of renovation, with costs estimated around $10 million.
The hotel contains 171 rooms in total, 100 for standard rooms, and 71 for extended stay. Best Western Plus Regional Director, Tom Busch, says the two different room styles are intended for two markets of the consumer.
“Those numbers had to work, we had to buy this thing properly because we knew we were going to pour a lot into it, and at the end of the day we had to make sure that would work and the market would support it,” Makenda LLC Vice President, Rod Lindquist said.
Makenda LLC the current owner of the hotel hired 40 contractors to complete renovations, including 35 locally.
Busch says the real economic impact will be able to be seen when the Five Sullivan Brothers Convention Center is finished.
“The value of having the convention center is really the key because you have sports teams coming in, large events that will come to the city. This would drive the room demand for sports, for business, for the town itself, and the university that’s near by,” Busch said.
Mayor Quentin Hart stated the convention center is in a three phase renovation plan. The plan is currently in its second phase, and Hart estimated the renovation would be completed Oct. 2021.