The Gratz Park Inn has been sold to Lexington-based property management company RainMaker Hospitality, which will renovate and rebrand the facility as part of The Tapestry Collection by Hilton. The historic downtown hotel will remain closed during the renovations, according to Sunil Patel, president of RainMaker Hospitality.
“It will be a total makeover of the property,” Patel said. RainMaker, which was formed in 2009, currently owns nine hotels in the Central Kentucky area, with additional facilities scheduled to open next year in Frankfort and Winchester in Kentucky, in addition to Dayton, Ohio. The company’s ownership team includes Patel, Prakash Maggan and Ketan Patel.
“We felt this would make a nice addition to downtown for us,” Patel said. RainMaker’s Lexington properties currently include the Candlewood Suites near Newtown Pike, the Comfort Inn & Suites on Buena Vista Road, and the Country Inn and Suites on Executive Drive.
“We’ve had the Tapestry Collection in mind for a while, and this fit the picture,” Patel said.
The Tapestry Collection, which was launched in January, is Hilton’s second collection brand, positioned just below its three-year-old Curio Collection in the upscale hotel segment. Tapestry Collection properties are curated to include original, upscale, independent boutique locations that emphasize an individual spirit, while still offering guests an experience that is “approachable and familiar.” Other recent additions to the Tapestry Collection include the historic Graham Georgetown in Washington, D.C., slated to join in early 2018, and the Troubadour Hotel in New Orleans.
The purchase of the Gratz Park Inn was made through a private sale for an undisclosed amount. The renovations are projected to require four months until completion, during which time the hotel will remain closed, Patel said. The restaurant, Distilled, will remain open during that time.
“It’s going to be an exciting hotel once everything is said and done,” Patel said. “We are looking forward to completing the renovation and adding a wonderful hotel to downtown.”