Listing Agents
Eric Skipworth
T | 312.248.4109
eskipworth@paramountlodging.com
Omari Head
T | 410.406.7259
ohead@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the institutionally owned and third-party managed 63-room Hampton Inn Akron-Fairlawn, OH
- Property will be auctioned in the May 3rd event on Ten-X. Asset is available for individual purchase as part of a six-property portfolio
- Ability for qualifying franchisees to retain the Hampton Inn by Hilton flag through a new long-term license upon completion of the PIP
- In-place RevPar is now 21%+ higher than 2019 pre-COVID performance
- Strong residual upside in transitioning from national institutional ownership to a regional Midwest portfolio owner/operator with greater economies of scale
- Adjacent to and readily accessible via Interstate 77, with over 90,000 vehicles passing the location daily
- Proximate to all core submarket demand, including Crystal Clinic Orthopedic Center Hospital, Summit Mall, and Continental Headquarters
- Convenient to all broader Akron area demand, including Summa Health System, the University of Akron, Goodyear Tire Global Headquarters, LyondellBasell, and downtown Akron
- Optimal time to invest in Ohio amidst expansive economic growth due to the state’s business friendly legislation
- Ohio is the seventh largest economy in the U.S. and ranked #2 in CNBC’s Cost of Doing Business poll