In a deal brokered by Paramount Lodging Advisors, the Red Roof Inn Grand Rapids is being sold by current owner FMW RRI NC to Cascade Economy Hotel, Inc.
The hotel, located at 5131 28th St. SE, will continue to operate as an independently owned and franchised Red Roof Inn.
"This transaction further confirms investor confidence in the Grand Rapids market and the ongoing resurgence of Michigan lodging demand," noted Adam Montufar, senior associate for Paramount Lodging Advisors.
Montufar said the buyer also expressed confidence in the Red Roof Inn brand.