UPDATED: New Bern Hotel Goes For $1.26 Million At Auction

A New Bern hotel was sold to the highest bidder Thursday morning, and that turned out to be just $1.26 million.

The Days Hotel in Five Points closed due to bankruptcy in May. The auction drew a lot of onlookers, but only a couple of serious bidders.

The winning bid was actually over the phone from a man in Georgia. Sanmukh Patel says he is keeping it as a hotel and will open it as soon as possible.

Bidding on the six-story hotel started out at $500,000 but the auctioneer had to drop that opening bid after no one spoke up.

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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Anonymous on Jul 16, 2009 at 02:38 PM
    Five Points area in Raleigh is one of the nice places to live inside the beltline. Or for all of Raleigh for that matter.
  • by Nom Location: ENC on Jul 16, 2009 at 12:20 PM
    Plenty of towns have an area named 'Five Points' and its always a terrible area. Why is that? Maybe the new owner can get a grant to turn this into an Extended Stay Planned Parenthood or a large rehab clinic and call it the 'Dazed In' seriously though its time for New Bern to tighten the neuse.
  • by John Location: New Bern on Jul 16, 2009 at 12:01 PM
    Change is not easy, and it starts with getting the hotel. It will be interesting to see what the buyer decides to do with it. Investing an initial 1.2M seems like they should follow up to renovate it with some historic stuff and bring in folks to the area. Anything will help this area!
  • by kelly Location: wilson on Jul 16, 2009 at 11:35 AM
    with this building ,where it is located no one in their right mind would ever stay there. to begin with you would never be able to enjoy your stay from having to worry about coming back, or waking up and you have absolutely NOTHING left because everything was STOLEN!!!!!!!!!!!!!!
  • by Wolfgang Location: Chocowinity,NC on Jul 16, 2009 at 11:17 AM
    The auction drew a lot of onlookers, but only a couple of serious bidders. Why, because most people could not run a business like that. There are not to many people who could put just $1.26 million to buy a hotel plus the cost to renovate it another 1 Million Dollars. I couldn't, could you?
  • by Notta on Jul 16, 2009 at 11:01 AM
    That place isn't worth what they paid for it. It was a dump. Who ever gets it I hope they do a 100% make over, if not its not going to be worth stayin in ever.
  • by John Location: New Bern on Jul 16, 2009 at 09:56 AM
    Hopefully they can turn it into a very nice, attractive bldg which will greatly improve that area!
  • by Anniie Nonomus on Jul 16, 2009 at 08:38 AM
    Horrible part of town. Never understood why it was build there. It has to be at least 34 years old by now also.

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