The Herald Bulletin

Evening Update

Local Business

March 5, 2013

Hotel could hang ‘no vacancy’ sign for first time in months

Bankruptcy court orders auction of closed Garden Hotel

ANDERSON, Ind. — There was a time when the Anderson Holiday Inn would have to hang the “no vacancy” sign during Indianapolis 500 week.

“That location was one of the top hotels in the area,” said Tom Bannon, executive director of the Anderson-Madison County Visitors and Convention Bureau.

But nowadays, the hotel, which later operated as a Garden Hotel, doesn’t get too many visitors. No one’s stayed there in months.

In October, former owner, M3 Hotels, filed for bankruptcy. The building sat vacant before M3 motioned to open the property, 5920 S. Scatterfield Road, for bidding on the order of a U.S. bankruptcy court in February.

Sealed bids will be accepted through 4 p.m. Eastern Daylight Time on March 14 on the 157-room hotel.

According to a listing with auction manager CBRE Auction services, the hotel includes 5.1 acres and is “perfect for redevelopment or an alternative use.”

The property sits just off Interstate 69 exit 226, 20 miles from Muncie and 23 miles from Indianapolis.

“The location is absolutely great,” said Anderson economic development head Greg Winkler. “The condition of the property is an absolute question mark, I haven’t seen inside it lately.”

The property is listed as being sold on an “as-is, where-is” basis.

Winkler said the amenities of the property — which include a kitchen, indoor and outdoor pool areas, a conference room and bar — lend itself to a hotel or motel operation.

When it comes to hotels, “we can always use more,” Bannon said. “Quality hotels, that is. Quality is key.”

While the number of visitors in Madison County ebbs and flows with the seasons, Bannon said local hotels often book quickly during big regional or local events, such as the Indy 500 or conferences at Anderson University.  

The initial deposit required to bid is listed at $50,000. Bids can be submitted to the CBRE office at 311 S. Wacker Drive, Suite 400, Chicago, IL 60606.

According to the last evaluation record from the Madison County assessor’s office, the property’s total value in 2012 was $2,099,900, with about $766,000 of that being from the land.

Find Baylee Pulliam on Facebook and @BayleeNPulliam on Twitter, or call 648-4250.

Text Only
Local Business
  • Charo Boyd: 'My Social Security' simplifies your life So many people buzz through extremely busy and complicated schedules these days. A smartphone in one hand, a computer in front of you, and a digital task list that never seems to end. In addition, to complicate things just a little more, there’s another event you need to add to your list — National Simplify Your Life week.

    July 28, 2014

  • nws - hb0725 - colts - jc - 4.jpg Colts camp's impact: pricey or priceless?

    Football fever is here and the city is flooded with fans eager to catch a glimpse of a favorite player. But officials say they are unclear what kind of economic impact the Indianapolis Colts training camp has on the area.

    July 26, 2014 1 Photo

  • BIZ - HB0727 - Skill gap 2 Seeking a solution today, not tomorrow Tina Warner-Morton says she wants to open her own healthcare business because it is too difficult to work for an employer with unclear employee expectations.

    July 26, 2014 1 Photo

  • BIZ - HB0727 - Cathy Cupboard Biz Profile Business Profile: Cathy's Cupboard focuses on customer satisfaction Cathy McPhearson opened her first storefront in June, but this is not her first venture into business. “I have always wanted to have my own business,” she said. “The problem was finding what people like, but everyone seems to like candles.”

    July 26, 2014 1 Photo

  • IU Health Ball Memorial Hospital named Level III trauma center The Trauma Center at Indiana University Health Ball Memorial Hospital has been verified as a Level III Trauma Center by an ad hoc committee of the Committee on Trauma (COT) of the American College of Surgeons.

    July 26, 2014

  • Clark, Big Joe mug 'Big Joe' Clark: Beat the market or meet your goals? True or not, my experience tells me that goals – especially when written down – undoubtedly serve as catalysts for success. However, danger arises when a goal does not properly focus on the long term result you expect.

    July 25, 2014 1 Photo

  • DSC_8125.JPG Auction teaches in business, farming

    After 10 years of 4-H, saying goodbye to his animals has become a simple matter for McKennon Heald. But he said he wouldn't be surprised to see some tears from some of the younger participants. He's been there.

    July 25, 2014 2 Photos

  • Anderson, Alexandria and Elwood receive grants to tear down abandoned houses Three Madison County cities — Anderson, Alexandria and Elwood — received state grants that will be used to tear down abandoned, dilapidated houses.

    July 25, 2014

  • NWS - HB0715 - Chuck Pagano Pagano breakfast sold out A breakfast with Indianapolis Colts head coach Chuck Pagano is sold out, organizers said Wednesday.

    July 23, 2014 1 Photo

  • Cellular Connection to host backpack giveaway Residents in Anderson will benefit from a national backpack giveaway campaign on Aug. 2.

    July 23, 2014

Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide