Holiday Inn Express in Salem Sells for $3M
SALEM, Ohio – The Holiday Inn Express, one of the few places with overnight lodging in this city, has been sold for more than $3 million to M B Salem LLC.
The sale includes the parking lot and hotel, which were completed and opened in 2015 with 71 rooms, an indoor pool, gym and business center. The three-story building sits near Home Depot and the Walmart plaza on the east end of the city.
M B Salem LLC is a company that filed as a fictitious name for the Holiday Inn Express Salem in November 2020, according to the Ohio Secretary of State website. M B Salem LLC lists Altavista, Va., as its address. Kunal Shah is listed as the agent.
M B Salem LLC purchased the hotel on 1.3 acres of property from Salem Hotel A. Inc. for $3,004,358, although according to the Mahoning County Auditor’s Office, the total consideration was $4,050,000. The sale was completed March 3.
The current value of the hotel property is listed at $2.8 million on tax records.
Published by The Business Journal, Youngstown, Ohio.