Highlights

• Competitive hotel market tract has gained 9.8% RevPAR growth over 2008 to its current level of $39.21.
• SIGNFICANT PRICE REDUCTION: The sellers are highly motivated to dispose of this asset quickly. Therefore the asking price is below 3x Gross Rooms Reve
• BELOW REPLACEMENT COST: The opportunity exists to acquire the asset at a significant discount to the current replacement cost. Additionally, with min

• MULTIPLE BRANDING OPTIONS
• SIGNIFICANT UPSIDE POTENTIAL

Description

OVERVIEW: The asset is designed as a four-story, interior-corridor property. Until recently, the hotel was operated as a Holiday Inn. The physical asset is in good condition, and offers significant upside potential through specific renovations and an improved operating strategy.

GUESTROOMS: The asset features 153 well-appointed guestrooms. The rooms are well-sized and present the opportunity for the hotel to improve upon the occupancy and average room rate with certain upgrades.

FOOD & BEVERAGE: The property features a full-service restaurant, as well as two lounges. This food and beverage offering is well above that typically found at similar full-service hotels.

FUNCTION SPACE: The hotel maintains over 16,000 square feet of meeting space. With only 153 guestrooms, there is a significant opportunity to drive group demand and banquet business at the asset, which would significantly improve the net operating income of the property.

ADDITIONAL FEATURES: Other amenities available at the hotel include an outdoor swimming pool, fitness center, business center and 650 parking spaces.

CENTRALIZED LOCATION: Youngstown is located approximately 75 miles southeast of Cleveland, near the border of the State of Pennsylvania, and at the intersection of Interstate 80 and Interstate 680. The area is also located just north of Interstate 76. As such, the area is easily accessible to the surrounding population base in numerous states.

SOLID DEMAND GENERATORS: Major employers and attractions within the Youngstown metropolitan area include:
- Youngstown State University,
- Toys R Us,
- General Motors,
- WCI Steel,
- Butler Institute of American Art,
- The Chevrolet Center,
- Johnson Controls,
- Cintas
- And numerous other companies.