A Westside Motel will see a renewal thanks to planned renovations and a pair of optimistic local investors.
The Raintree Inn West — which was saved from foreclosure earlier this year when owner Barry Craddock arranged refinancing through First State Bank — has found two new owners.
The motel, which once enjoyed a reputation as one of the finest establishments in lodging in the Pikes Peak Region when it opened in 1982, will be renamed the Raintree Inn.
The new owners are Richard Wenschlag and Scott Rhoda, who closed on the property for a purchase price of $2.69 million.
The two men are intent on bringing back the splendor associated with the motel’s history.
The motel, located off Highway 24 on 2625 Ore Mill Road, is minutes away from Colorado Springs attractions such as Old Colorado City, The Broadmoor Resort, and Pikes Peak National Monument.
The hotel recently underwent a modified facelift, with a portion of the 117 guest rooms newly remodeled, including a deluxe honeymoon suite.
According to co-owner Wenschlag, he and partner Rhoda had been looking for a viable investment for some time. The two previously managed the Midnight Rose Casino in Cripple Creek. Rhoda will stay on for an indefinite time in the Cripple Creek area while Wenschlag will manage the day-to-day operations of the motel.
The motel, known for its olympic-sized indoor/outdoor pool, was the object of several failed bids from prospective buyers this summer.