Great Southern Bank takes over Quality Inn

by Karen E. Culp

SBJ Staff

Great Southern Bank became the owner of the Quality Inn North in Springfield as of Jan. 2, said Don Gibson, vice chairman.

The property, near the I-44 exchange with North Glenstone, had been leased by MC Future Corporation, which leased it from landlord Ben Delgado, who also owns hotel property in Branson, Gibson said.

The transfer of the property to the bank's possession took place via a special warranty deed. According to that document: "there exists a deed of trust, dated Nov. 30, 1992, executed by Benjamin Delgado ... in favor of Great South Financial Corporation, as trustee for Great South Savings Bank (Great Southern Bank) ... the conveyance of this special warranty deed shall be and is hereby intended and understood to be an absolute conveyance and unconditional sale, with full extinguishment of grantor's redemption rights (if any) and with full release of all grantor's rights, title and interest of every kind and character in and to said premises."

The Nov. 30, 1992, deed of trust on the hotel property between Great Southern and Delgado secured a promissory note for $3.2 million. The hotel encompasses lots 5-11 of the Grandview Plaza subdivision, and is located at 3050 N. Kentwood Ave. according to the deed.

The officers of MC Future Corporation, the company which leased the hotel, were Carmen Becker (president and treasurer) and Michelle Daniels (vice president and secretary), according to the corporation's 1997 annual registration report, filed with the Missouri secretary of state's office. MC Future Corporation remains a Missouri corporation in good standing. The corporation's attorney, Samuel Ory, said that the corporation remains intact, but has no assets.

Great Southern has hired Harmony Hospitality Group to manage the Quality Inn. The bank is now looking to sell the hotel for $3.7 million, Gibson said.

The Funny Bone comedy club, a separate business, continues to lease space in the hotel and maintain its operation there, Gibson said.

Harmony Hospitality is a company born of a Colorado corporation, Sierra Hospitality, said Victor Berrios, general manager of the Quality Inn North. Harmony Hospitality is the Missouri corporation formed to manage this property and two in Branson. Gar Johnson is president of that corporation, Berrios said.

Berrios is part of an management team that also includes an accountant, chief engineer and the company president. That team comes into the hotel with the intent of evaluating every employee and "giving everyone a fresh start," Berrios said.

"What we like to do is get to know the people who are here and the way things are operating before we begin replacing any staff or making major changes. It really gives everyone a chance to start fresh," Berrios said.

The 197-room Quality Inn was at

one time a Hilton Hotel. The Quality Inn flag is part of the Choice Hotels chain. Berrios said the advantage of managing a Quality Inn is that there is brand recognition.

"You know the type of service to expect. If you travel to many cities and stay at a Quality Inn each time, you grow to know what services are provided," Berrios said.[[In-content Ad]]