Ohio Cleveland Middleburg Heights Branded Hotel

$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 ar