ROANOKE TIMES 
                      Copyright (c) 1996, Roanoke Times

DATE: Friday, October 11, 1996               TAG: 9610110078
SECTION: BUSINESS                 PAGE: B-8  EDITION: METRO 
SOURCE: MAG POFF

HOLIDAY INN PLANS TO BE QUALITY INN

The Holiday Inn-Civic Center, a 34-year-old downtown Roanoke hotel, confirmed Thursday it will change national franchises and become a Quality Inn.

The property has been part of the Holiday Inn chain since it was built in 1962. Bharat Mody, manager of the 152-room hotel, said no date has been set for the change.

The hotel, at Orange Avenue and Williamson Road, was purchased in 1994 by Arihant Inc., a Virginia corporation whose principals are from Raleigh, N.C. Mody said renovation of the rooms began in 1995 and is continuing.

The hotel recently secured a $1.5 million refinancing loan from Bloomfield Acceptance Corp. of Birmingham, Mich. The 15-year loan, with a 20-year amortization schedule, was sold to Nomura Asset Capital Corp. of New York City.

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