Holiday Inn West Bay, downtown Traverse City's anchor hotel, apparently has been sold. The owner's managing partner, CWB Property Management of Dublin, Ohio, did not return calls, but several sources confirm the sale is in its final stages and could be announced as early as next week. While some reports have the current, 179-room hotel being razed in favor of a new building spanning the length of the waterfront, others say the new owners merely intend to remodel. In 2007, CWB President William Wolfe said in a statement that the company had renewed its Holiday Inn franchise agreement through 2012 and disputed rumors of a possible sale, noting, "We are committed to … serving the people and visitors of Traverse City, both now and in the future."