A year after the new owners of the Ramada Plaza in downtown Hartford gained control of the 350-room hotel in a foreclosure, the property is on the market.
An offering circular from Hunter Hotels, a hotel broker, lists the Ramada — formerly the Crowne Plaza — at $13.5 million, with letters of intent due by Jan. 31.
A broker from Hunter did not have an immediate comment today. The owners, a Los Angeles-based affiliate of family-owned Magilink Group in South Korea, did not immediately respond to an e-mail for comment.
The Magilink affiliate, 50 Morgan CT LLC, acquired the mortgage on the hotel shortly before the previous owners, CHOA Vision LLC, filed for bankruptcy in 2010.
Last year, Junny Lee, the son of Magilink’s owner, said there were plans for upgrades at the hotel, but it was unclear today what investments, if any, have been made.
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