Welcome or Register

Welcome

Thank you for visiting today. If this is your first visit, take your time and look around. We have plenty of information and resources available to you. If you are a return visitor, thank you. We would love to hear from you and tell you how I can serve all your hotel real estate needs.

Errol D'Souza
Laurel Real Estate Co. 

P.O. Box 284 
Galena, OH 43021-0284
Office: 740-965-1966
Contact Me
Back to Gas Stations / C-Stores
Sold for $92,217 Recently Sold

6625 Dean Memorial Parkway
Hudson, OH 44236

Residential
Property Photo
1/16

Sold

Sold for $92,217 on Sep 22, 2017

Description

Clarion Inn * 239 units Turnaround Opportunity * Room Revenue $2,377,894 * Priceonly t 1.8 times revenue * Priced at only 1.8 times room revenue * Negative NOI Hotel is losing money * Payroll Expenses: $1,718,816 (very high with room for reduction) * Located along Interstate I-80 and only 30 miles from downtown Cleveland * Growing area new Costco just opened across the street, Bass Pro Shops announced coming soon * Owned by an IT company from India, being operated with remote management * Motivated seller looking for a quick sale * The room revenue is $2.3 million but the hotel is losing money (Negative NOI) due to very high expenses. The ideal buyer will be an experienced hotel operator who can see the opportunity to improve the NOI by reducing expenses.

Features

  • Acres: 8.24 acres
  • ADR: $46.37
  • Amenities: Grand Ballroom, Meeting Rooms, Restaurant, Bar/Lounge, Indoor Pool
  • Corridors / Floors: Interior / 2 Floors
  • No. Rooms: 239
  • Occupancy: 62%
  • Price per Room: $18,828
  • RevPAR: $58.6%
  • Rm Rev Multiplier: 1.8
  • Room Revenue: $2,377,894
  • Total Revenue: $3,245,087
  • Type: Full Service
  • Year Built: 1967

house realtor mls

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu