Patel to renovate Tower Hotel
By Molly M. Fleming
The Journal Record
OKLAHOMA CITY – The Tower Hotel has a new owner after several years of having an uncertain future.
Champ Patel purchased the 1980s-era property Thursday. He plans to convert the 354-room property into a 215-room Embassy Suites within the next year. The hotel at 3233 Northwest Expressway was a Marriott until 2013.
The hotel has 13,000 square feet of meeting space. It will be renovated as well. The hotel will not close during the renovation.
HotelBrokerOne Vice President Ted Holmes and NAI Global brokered the deal. Holmes declined to release the sale price.
The Tower Hotel was built in 1985, according to county records. It was last sold in 2003, when Columbia Suffix Corp. paid $18 million for the property.
Holmes said the property attracted a lot of interested buyers. It sits on nearly 9 acres. Patel plans to build a 95-room limited-service hotel in some of the unused parking space. Holmes said he couldn’t announce the hotel’s flag yet.
On Dec. 6, Patel will break ground on the first location of a hotel chain’s new flag. The details have not been released yet. It will be built next to Barnes & Noble, near Quail Springs Mall.
Patel opened Hilton’s first-ever Tru by Hilton in May. It’s at 802 S. Meridian Ave.
Greater Oklahoma City Metro Hotel Association Director Jeff Penner said there couldn’t have been a better person in the world to buy the property. While Penner also works for Champion Hotels as the company’s regional manager, he said the rest of the association would agree with him.
“That’s what the hotel needs,” he said.
Greater Oklahoma City Convention and Visitors Bureau President Mike Carrier was delighted as he was talking about the sale to Patel.
“We’re very, very pleased to see that property is coming back as really nice and fully renovated,” he said.
He said he knew other buyers who were also interested in the space, and they would have also done a great job with the update. Over the last 10 years, he’s seen Patel’s work in the city.
“I know any time they undertake a project, they do it right,” he said. “They are outstanding operators.”
Penner said the Northwest Expressway corridor needs the 13,000 square feet of meeting space. The corridor is dotted with economy, extended-stay, and limited-service hotels, which have little or no meeting space.
Carrier said the meeting space is one of the property’s main attractions. The 13,000 square feet is used by state and regional associations. Other demand generators in the area are Integris, Deaconess, and other medical offices; Penn Square Mall, where salespeople are visiting clients; and other offices.
Patel’s investment in the Tower Hotel is a continuation of his interest in the Northwest Expressway, Holmes said. The corridor has seen a lot of hotel activity lately. A new Residence Inn opened in May, the La Quinta has been updated, and another property is under construction.
“This is a great day for Oklahoma City,” Carrier said.