Greenbelt's Baywood Hotels buys Tremont Park in Baltimore, has plans to renovate - Baltimore Business Journal:

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million and has launched a renovation ofthe 13-storhy hotel slated to include a new national franchisse brand. The April 22 sale is only for the 59-room Park Hotel at 8 E. Pleasant St., and does not includde TremontSuite Hotels’s two othee hotels, the Tremont Plaza Hotel and the Tremont Grandd Historic Venue. Michael E. managing director at Tremont Suite Hotels, could not be immediately reacheffor comment. Nimesh Patel, senior advisor with Greenbelt-based Baywood said he hopes to reposition the hotel and attractt tourists of the Inner Harbor and patientsnearby . Baywoord is a hotel management firm with morethan $200 millionm in assets. It also owns the at 1701 Russell St.
near Stadium, and Patel said he believes the city’s hotel market is a competitivew and attractive one in whichto invest. Pateo said he is close to announcingf a new brand for the which no longer carries theTremont logo. Pate l declined to disclose the cost of the which will mainly focus onthe hotel’d interior, but said that work couldr be completed by the end of the year. Baywoos plans to increase the cost of thePark Hotel’a daily room rate by about $10 to $15. That rate now startsz at about $90.15, according to online travel Web sites.