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The Times of India
The Times of India
World
TOI World Desk

In 2011, a California hotel owner refused to sell for $6 million; the final deal reportedly reached $16.25 million

For years, Ray Patel’s Golden Key Hotel stood on a busy stretch of Colorado Street in Glendale, California, surrounded by a city that was changing quickly. According to the Los Angeles Times, then came the Americana at Brand, a roughly $400 million mixed-use development that brought shops, restaurants and homes to the area. Patel’s 55-room hotel occupied an awkward piece of land beside the new project, eventually becoming almost enclosed by it. He did not want to sell. When developer Rick Caruso offered $6 million, Patel turned him down. The dispute soon moved beyond a private property negotiation. Glendale officials began considering whether the hotel could be taken through eminent domain and transferred for the planned expansion.

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