Makeover, new name set for Amarillo's 262-room AmbassadorMakeover, new name set for Amarillo's 262-room Ambassadorhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=29832014-09-23T12:59:00Z2014-09-23T00:00:00Z

AMARILLO - The 262-room Ambassador Hotel, located at 3100 W. I-40, was purchased by First Capital Real Estate Investment, which plans a $5 million renovation and a rebranding as a Wyndham Garden Hotel.

The appraised value of the Ambassador property is approximately $4.5 million, according to the Potter-Randall Appraisal District. The hotel’s previous owner, Parthenon Hospitality Ltd., acquired it from the Shaner Hotel Group in 2004. The hotel was built in the early 1980s.

Renovations should be completed by the end of 2014 or first quarter 2015, according to Suneet Singal, chief financial officer of First Capital Real Estate Investment. Dallas-based Hospitality Management Corp. has assumed management of Ambassador.

A 2013 Smith Travel Research survey ranked Wyndham Garden, a sub-brand of the “upper upscale” Wyndham brand, with the top overall score in the upper mid-price tier, according to Business TravelNews article.

Amarillo Globe-News
http://amarillo.com/news/local-news/2014-09-22/ambassador-no-more-new-owner-spends-5m-transform-landmark-hotelRead more at {Source}

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