Urbana hotel sold to Las Vegas company

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URBANA, Ill. (WAND) – The winning bid for a closed Urbana hotel came from a company in Las Vegas.

The News-Gazette reports JWM Venters LLC submitted the $1.3 million bid that won the Landmark Hotel. Urbana Mayor Diane Marlin told the newspaper that group was not one of the potential buyers the city met with before the hotel auction began.

The paper reports the hotel auction broker told Urbana leaders about the winner. She says future plans for the site are unknown, but added that a “high-quality, vibrant project” is still expected.

JWM’s website says the company looks to make an impact on “urban core communities” across the United States. Some of the projects the page says it’s involved in – located in Texas, Nevada and Georgia – involve Wyndham Hotels and Resorts.

“Our goal is to provide these urban communities with significant economic development that will help transform the inner core of established urban environments into a vibrant culturally-rich community,” a JWM statement said.

The News-Gazette says Marlin expects the sale to take at least a month to finalize. The paper could not reach the auction broker or JWM CEO John McDonald for comment.

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