Ohio Cleveland Middleburg Heights Branded Hotel For Sale

$4,350,000 for Ohio, Cleveland, Middleburg Heights, Branded Hotel Business & Property.  The hotel is trending to do $1.55 million this year.  Star reports are available upon request for qualified buyers with an NDA in place.  As a previous brand, the hotel averaged $1.2 million in revenue before being remodeled.  The property just reopened in November '23.  It had been closed due to COVID & difficulty finding staff.  There are 106 rooms total.  The seller operated only 41 of 106 rooms (Building A).  The seller has invested $800,000 into property remodeling.  The property is thoroughly PIP'd (Property Improvement Plan).  The ADR has been averaging around $60.  However, the hotel booked 106 rooms at $299 per night for the Women's Final Four.  The seller kept Building B closed during the winter months.  Some of the $800,000 in capital improvements include remodeling every single room in the property, except for 15 – 18 rooms, at $5k/room.  Roof – brand new on both buildings, $150k+.  80% of  PTAC units are new, and the common maintenance areas have been updated.  The seller is selling because he lives out of state & the hotel is several hours from his home.  Great Location in an upscale area of Cleveland, minutes from the Airport and proximity to major highways.  This property can be converted to apartment units.  Bank financing is possible.  Profitable operation.  Seller is motivated and willing to make the right deal with the right owner-operator.  Please “do not disturb the employees”.