Minneapolis-based hotel chain AmericInn has purchased a Holiday Inn off Interstate 69 in Fishers, giving the company its first Indiana location.

The 78-room property—to be rebranded AmericInn Hotel & Suites Indianapolis Northeast—will get an “extensive” renovation, the company said. It was built in 1994 and last renovated in 2004. An AmericInn sign went up along the highway this week.

Details of the firm’s investment were not disclosed.

Fishers-based Dora Brothers Hospitality Corp. auctioned off the hotel Aug. 31. Dora decided to sell the property after it could not secure financing to replace an adjacent restaurant. Holiday Inn hotels must offer food service.

The hotel at 9780 North by Northeast Boulevard, just north of 96th Street, sits next door to a Holiday Inn Express and across the street from a Hotel Indigo and Hilton Garden Inn, all owned by Dora. The restaurant site, which has a separate owner, was not part of the auction but is for sale.

The acquisition “supports our national growth strategy of adding premier properties in key markets," Paul Kirwin, CEO of AmericInn parent Northcott Hospitality said in a prepared statement. The property will be managed by Three Rivers Hospitality LLC, another Northcott unit.

AmericInn said it has added five development offices around the country and is pursuing new franchise opportunities in several locations. The chain has more than 250 mid-scale hotels open or under development in 22 states.