Habana Inn broker "50/50" on future of the hotel
By Jordan Redman
New details have emerged in the selling of the "Southwest's Largest Gay Resort," otherwise known as the Habana Inn.
The Gayly interviewed Peter Holmes, broker for the Habana Inn located in Oklahoma City.
Holmes began by saying "The hotel has been run by the same family since 1993. They are historically hotel owners. They are ready to retire. So they put the hotel up for sale."
He continued, "The hotel has suffered in recent years from lack of capital improvements. The structure is somewhat dated. Revenue has continued to decline. It’s made it less attractive as a viable business."
Located in the heart of the Oklahoma City Gayborhood at NW 39th and Penn, the Habana Inn is home to many LGBT-friendly spots.
Holmes mentioned that "It doesn’t seem that travelers are seeking out specific venues like they used to," and "The growing acceptance has hurt the business to some extent."
The resort is home to two nightclubs, Copa and Finishline. One restaurant, Gushers. Also, one gift shop, Jungle Red.
"Reality is, even if the hotel is sold, it is not certain that the businesses will want to stay with the new owner and continue to run the entertainment venues," Holmes explained.
When asked about the mention of an "opportunity for a tear down and re-use" in the property overview, Holmes said, "I would say right now, 75 percent of the people that have looked at it as keeping it a hotel. The general consensus is that something needs to happen for it to become a viable long-term business. If that doesn't occur, it will likely be purchased by someone who will use it for the land."
He continued, "It’s been on the market now for a little over a month. We’ve had steady and strong interest."
When asked about keeping the property LGBT+ friendly, Holmes said, "I think the likelihood is at least 50/50 that it will stay similar to what it is today with new ownership." He continued, "Most who have looked at it are looking at it keeping it LGBT+ friendly."
The Gayly. March 28, 2018. 1:16 p.m. CST.