Value Hospitality Inc., a group led by Pat Kasthurirangaian, the general manager of the Hotel of the Arts Days Inn & Suites near downtown Milwaukee, recently purchased the 96-room Milwaukee Airport Inn, located at 1716 W. Layton Ave., and plans to convert it into an assisted living center.
Value Hospitality bought the property for about $1.8 million from Kay Hospitality LLC, accoding to state records. The 50,833-square-foot, two-story building was built in 1970 and has an assessed value of $2 million, according to city records.
The hotel, which previously operated under the Howard Johnson flag, is located northwest of Layton Avenue and I-94 near the Mitchell Interchange and Mitchell International Airport.
The area near the airport has an excess supply of economy hotels, so the group plans to spend $3 million to convert the hotel into an 88-bed assisted living facility, Kasthurirangaian said.
The hotel will remain open until the end of this summer. Then renovation work is expected to begin and be complete in time to open the assisted living facility, which will be called Renaissance Villa, in early 2015, Kasthurirangaian said.