Glenmont Acquires Downtown Detroit Hotel to Be Rebranded to a Boutique Hotel Indigo After a Comprehensive $10 Million Renovation

Glenmont Capital Management | April 25, 2018

NEW YORK--Glenmont Capital Management, LLC, a New York-based real estate investment firm led by Managing Principal, Lawrence A. Kestin, announced the acquisition of the 241-key Holiday Inn Express & Suites Detroit Downtown. The property will undergo a comprehensive $10 million renovation and upon completion will be rebranded to an upscale boutique Hotel Indigo. Construction is scheduled to commence in late 2018. Located at 1020 Washington Boulevard in downtown Detroit, the hotel contains 2,000 square feet of meeting space, a business center, fitness center and rooftop pool. The hotel is conveniently situated among the CBD's 16.8 mil...