A Pinellas County man has completed a $1.5 million deal for a landmark Plant City hotel.
Louis Spiro became the new owner of the Red Rose Inn and Suites after closing on the deal Thursday. The 261-room hotel was shuttered by Evelyn and Batista Madonia Sr. in May 2012.
The Madonias filed for bankruptcy protection in March, and the Red Rose and many of their other assets were sold to repay their debts. Spiro paid a fraction of the $5 million that the Madonias spent to buy and renovate the hotel a decade ago.
The hotel was built more than 40 years ago at Interstate 4 and Wheeler Street.