Developers plan Home2 Suites in downtown Albany (2015, refinancing)

[Airforceguy]

While I'm glad to see investment in DT Albany. I wish the city would do something about the convention center, it definitely needs to be rebuilt.

Pending a working agreement with the Albany City Commission, the group that brought the Hilton Garden Inn to downtown Albany plans to build a Home2 Suites hotel adjacent to the 101 S. Front St. hotel.

#Rick Patton addressed the commission at its work session Tuesday morning, asking the board to allow a refinancing of the remaining $3.7 million owed on a loan the hotel group got when it opened the Hilton Garden Inn 10 years ago. Patton said if the city approves the refinancing, he’ll move forward with the process of bringing the Home2 Suites downtown.

#“The numbers work for this product,” Greg Winey, president of the management company that’s helping Patton with the day-to-day operations of the Hilton property, told the board. “Home2 Suites, which is a sister property of Hilton and Homewood Suites, is a very hot property right now, and there are a couple of developers who want to put one by the Albany Mall. But Hilton has the first option, and we’d like to bring it downtown for a co-branding opportunity.”

Developers plan Home2 Suites in downtown Albany | Albany Herald