122
SOUTHINGTON, CONN. — Viththal Bank has acquired a Days Inn Hotel in Southington from Lighthouse Laning St., an entity of a California-based private investor, for $2.4 million. Originally built as a Howard Johnson in 1965, the 71-unit hotel operated as a Red Carpet Inn prior to foreclosure by the lender. In consultation with Hamm & Co., Lighthouse installed professional management, renovated the hotel and reflagged the property as a Days Inn. The repositioning increased occupancies from 15 percent prior to foreclosure to more than 80 percent. The hotel is located off Exit 32 on I-84. Freedom National Bank provided the SBA financing for the deal. Sperry Van Ness represented the seller in the transaction.