Eric Holtze, a local hotel developer who began trying to breathe new life into downtown Kansas City’s historic Hotel Savoy and Grill eight years ago, kept that dream alive by taking on a majority partner in 2013. Now, a partnership led by Holtze has sold its minority interest to that partner, Louisville-based 21c Museum Hotels LLC, which is transforming the landmark into 120-room boutique hotel with a fine-dining restaurant, event space and contemporary art museum.
On Monday, Holtze’s Savoy Acquisition Co. LLC closed on the sale of its stake in the building at 219 W. Ninth St. for an undisclosed amount of cash and title to the surface parking lot just east of the Savoy along Ninth Street. Holtze’s partnership, which plans to sell the parking lot, was represented in the transaction by Whitney Kerr Sr., a veteran Cushman & Wakefield broker who represented the Savoy’s previous owner, Don Lee, in his 1965 purchase of the property.
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