Courtyard & TownePlace Suites Cleveland Westlake, OH

Listing Agents

Eric Skipworth
T | 312.248.4109
eskipworth@paramountlodging.com

Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com

Detailed Information
Property Highlights
  • Fee simple interest in the lender owned, third-party managed, two property 207-key Marriott Portfolio
  • Hotel portfolio offered for sale in the June 29th auction event via RealInsightMarketplace
  • Two-property sale includes the adjacent 122-room Courtyard by Marriott and 85-room TownePlace Suites by Marriott Cleveland Westlake, OH
  • The Property benefits from additional stable income attributed by two NNN retail ground leases, Carrabba’s Italian Grill and Si Senor Tacos & Tequila Bar, totaling $229,454 annually
  • Opportunity to capitalize on strong operating synergies and economies of scale in owning adjacent Marriott hotels serving different sectors (upscale select-service and extended stay)
  • Offered unencumbered by debt and management with the ability to retain the Marriott flags upon brand approval and completion of the PIPs
  • Significant operating improvement prospects following completion of Marriott PIPs and transfer to more hands-on ownership
  • Adjacent to and visible from Interstate-90 with over 100,000 vehicles passing the location daily
  • Proximate to all Westlake area demand including Cleveland Clinic Westlake Campus, Clague Park, True Value Distribution Center, Westwood Country Club, Nordson, American Greetings, Hyland Software, TravelCenters of America, St. John Medical Center, and Equity Trust
  • Convenient access to all broader Cleveland area demand including downtown Cleveland, Quicken Loans Arena, FirstEnergy Stadium, Progressive Field, and the Rock and Roll Hall of Fame
Location