Springfield’s Tower Square Hotel now has a new owner.
The hotel is being bought by western Massachusetts business owner Dinesh Patel and other business partners for $10.5 million.
Patel plans to upgrade and re-brand the hotel, though he hasn’t said what the brand will be.
The MassMutual Financial Group told 22News the sale of the Tower Square Hotel also includes the sale of the Currents Restaurant and Tower Square Sports Bar. MassMutual announced in June that it was selling the Tower Square complex including the hotel, mall and office tower.
Patel and his partners plan to purchase the Tower Square mall and office tower within the next few weeks.
MassMutual confirmed that even when the building is sold, the contracts with the tenant businesses inside will remain in place.
22News placed calls to Patel and his lawyer but we have not heard back.