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SPOKANE, WA-West Coast Hospitality Corp. is selling its 153-room Budget Inn here. The buyer is Vancouver BC-based Musafar Investments LLC, which has formed Knightsbridge Investments LLC for the purchase of the 153-room motel. Musafar owns the Howard Johnsons Inn here at 211 S. Division. The purchase price was not immediately being made available, but Rene Montgomery, operations manager of the Howard Johnsons, says that if deal is consummated, Musafar may spend as much as $2.5 million on renovations.

The Budget Inn is located at 110 E. Fourth. A source at West Coast says the Budget Inn was purchased in 1991, at a time when the Spokane-based company was considering moving in that direction. With the company now focused on three- and four-star, full-service hotels, the property was seen as surplus. West Coast now franchises, manages or owns 45 full-service hotels throughout nine western states.

West Coast was founded in 1937 as a commercial real estate and development company under the name of Cavanaughs. When Spokane was awaiting the arrival of the 1974 World’s Fair, demand surged for hotel and motel properties. That demand swung Cavanaugh’s attention from predominantly commercial properties to hotels, which has been its focus since. At the beginning of 2000, Cavanaughs Hospitality Corp. purchased the assets of West Coast Hotels and changed its name to West Coast Hospitality Corp. A company source tells GlobeSt.com. West Coast will continue to acquire hotel properties for its portfolio and has a newly signed agreement for another franchise in Alaska.

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