In 1992, this 176 room hotel was acquired by affiliates of Amerimar Enterprises and Angelo, Gordon & Co. The potential of this acquisition was compelling, because the property was not achieving its fair share of the market demand, was in need of capital improvements, had been poorly managed, and was positioned poorly as a Days Inn. After acquiring the property, ownership initiated a $1.5 million capital improvement program to upgrade the image of the hotel. The franchise was repositioned to the Doubletree Club brand allowing for an immediate increase in the average daily rate. Management successfully raised the quality of service, and improved food and beverage operations to the point of profitability. Higher average daily rates achieved as a Doubletree allowed the property to maintain higher profit margins than were attainable as a Days Inn. With a consistent sales and marketing effort, the occupancy continued to rise and the property won accounts from corporations that previously would not have considered the hotel. Although the benefits of the franchise change were slower than expected, cash flow improved significantly since mid-1995 and the hotel has achieved occupancy and profitability levels significantly exceeding budget. The property was sold for a significant profit in 1998.