Rose Hill Bank makes Maize Holiday Inn Express possible

WICHITA — Normally when a real estate deal happens, developers want recognition, or the people bringing a new business want attention.

In the case of the Holiday Inn Express, hotel partner Raju Sheth would like Rose Hill Bank to get some props.

Sheth says Rose Hill, which bills itself as “the hungry little bank,” gave Maize Hotel LLC a mortgage when no one else would.

“Even with good financial statements from everybody, banks are not even interested in looking at a hotel.”

Sheth says he and his partners have more than 30 percent equity in the project.

“And still nobody was interested,” he says.

“That’s why the economy’s not going anywhere. Nobody wants to lend money.”

Holiday Inn Express Hotel coming to Maize

UPDATED — Maize has landed its second hotel deal.

On Wednesday, developer Marv Schellenberg and the city of Maize announced plans for a new Holiday Inn Express Hotel, which will be at Schellenberg’s Hampton Lakes development at the northwest corner of 37th and Maize.

Maize Hotel LLC is building the $2.5 million hotel, which will have three stories and 73 rooms and is scheduled to open in April 2011.

“This will just continue to solidify that even though we have a weak economy, Maize’s economy is still growing and strong,” says Rebecca Bouska, Maize’s deputy city administrator.

“We are getting ready to grow pretty quickly, I think, over the next 10 years.”

The hotel is adjacent to the proposed Northwest Bypass.

The Maize Hotel partners, including Mitesh Patel and Raju Sheth, also built the Hampton Inn in Derby. Sheth is still involved there.

The Holiday Inn Express would be the first hotel to be built in Maize’s 124-year history.

“There’s really just nothing on the northwest side as far as hotels go,” Schellenberg says.

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