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Buyer says Hotel Topeka sale is progressing; earnest money deposited and due diligence under way
Summary
Topeka Development Corporation received an update that Endeavor Hotel Group deposited $100,000 in earnest money and is completing a four‑month inspection period; the buyer reported lender interest, a 400‑page property condition report, and plans to rebrand and prioritize local vendors after closing.
The Topeka Development Corporation heard Feb. 10 that the sale of Hotel Topeka to the Endeavor Hotel Group is moving through due diligence and parallel county negotiations over a management agreement for the Manor/Conference Center.
Deputy City Manager Copley said the board previously approved the sale contract and that a four‑month inspection period is underway as part of due diligence. “Endeavor has provided the $100,000 earnest money that has been deposited to Lawyers Title,” he…
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