NEW CROWNE: Locally owned DeVault Investments has bought the 250-room Crowne Plaza Hotel in Clayton.

DeVault, which is headquartered in St. Charles, bought the hotel from the Bemiston Carondolet Corp., which has owned and operated it since 1989.

Terms of the sale, which closed July 3 and was announced today, were not revealed.

DeVault owns and manages more than 2,400 apartment units in the St. Louis area. James Zes is the president of DeVault.

The hotel at 7750 Carondelet Avenue has more than 21,000 square feet of meeting space. It received an excellence award this year from the Crowne Plaza corporation for having the highest overall meeting satisfaction scores of the company's North American hotels.