A foreclosed Ramada Inn on Indianapolis’ east side sold in an online auction Thursday for $1.3 million.
Donna Bray, the hotel’s director of sales, said staffers hope to learn the identity of the buyer and the buyer’s intentions for the property in about 30 days.
The two-story hotel, near Interstate 465 and Pendleton Pike, opened in 1970 and remains in business. It has 188 rooms, 12,500 square feet of meeting space, indoor and outdoor pools and a restaurant space used by Bennigan’s.
The property recently had been listed for sale by Clinton, N.J.-based Unity Bank for $1.8 million. The minimum permitted bid in the auction was $300,000.