New owner Nick Mangione Jr., bet on growth in Owings Mills, and Baltimore County helped place that bet.
Thanks to a $10 million Recovery Zone Facility Bond authorized by the county, Home Run Lodging, LLC, was able to take out a loan at below-market interest rates to finance construction of their $11.3 million hotel on Red Run Boulevard.
Authorizing the bond did not cost Baltimore County any money, a county statement said.
About 50 people, mostly local politicians and business leaders, attended a formal ribbon cutting at the Hampton Thursday morning.
Mangione, who also owns the Pikesville Hilton on Reisterstown Road, said businesses like T. Rowe Price, Care First and Toyota Financial Systems would keep the new 105-room hotel filled during the week.
On the weekends, visitors to and should keep the 32-person full-time staff busy, he said, as exemplified by the King's College football team staying at the hotel last weekend.
"We enjoy the partnership," Mangione said.
County Executive Kevin Kamenetz and county councilman Ken Oliver both briefly spoke to the assembled crowd outside the hotel's main entrance following Mangione's recitation of his family's history in Baltimore County, especially the northwest corridor.
Both politicians pointed to the hotel's opening as further proof of Owings Mills' continued growth.
"This new Owings Mills hotel highlights the role that businesses, schools and universities play in attracting travel dollars to Baltimore County," Kamenetz said in a prepared statement.
Oliver added that the hotel "demonstrates...confidence in the Owings Mills business community."