The sale shall proceed on the basis that there is no 'reserve price' or 'minimum bid price' the suggested opening bid of $1,500,000 (or $7,317 per room) is the number the Auctioneer will start the bidding, bids may advance or decline from this point.
Accelerated Marketing Group, Inc., a California based hotel brokerage and auction firm in cooperation with Tucson Realty and Trust, announced the sale of the 173-room former Ramada Inn and adjacent freestanding restaurant, which was sold at auction on May 13, 2004 in the bankruptcy court of the Honorable Eileen W. Hollowell.
Accelerated Marketing Group In Cooperation With Tucson Realty & Trust Has Been Retained To Conduct The "Without Reserve Or Minimum Bid" U.S. Bankruptcy Court Ordered Real Estate Auction Of The 173 Room (Former Ramada) Hotel At 5251 S. Julian Drive, Tucson On May 13Th, 2004.
