Popular Rochester hotel changes ownership - KTTC Rochester, Austin, Mason City News, Weather and Sports

Popular Rochester hotel changes ownership

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ROCHESTER, Minn. (KTTC) -- In the wake of Destination Medical Center, Rochester has already seen some changes downtown with hotels. Now, another popular Rochester hotel is changing ownership.

The Ray-Mar Motel across from Saint Marys Hospital was bought in late May by 1406 Second Street Associates for more than $1 million. The group of local investors is led by developer Ed Pompeian.

It is the same company that bought and renovated Brentwood on 2nd, which sits next to Ray-Mar. The hotel has stood at the corner of 2nd St Southwest and 15th Avenue Southwest for 57 years.

Pompeian said the purchase of Ray-Mar is a strategic move because of its proximity to Brentwood. And changes to the hotels will reflect decisions made on the multi-million dollar reconstruction of 2nd Street Southwest -- an effort to turn the thoroughfare into a destination "urban shopping center."

Though details are limited, Pompeian said 1406 Second Street Associates is planning to build a larger parking lot for Brentwood on 2nd.

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