AWH Partners and Opterra Capital acquired the Cincinnati Marriott at RiverCenter, making it the third Marriott Hotel in their portfolio.
Spire Hospitality now is operating and managing the hotel.
“As an uncommon opportunity to buy a Marriott-branded hotel with a strong history of consistent earnings in need of material renovation, buying the Cincinnati Marriott at RiverCenter fits directly in our strategy of identifying diversified, opportunistic investments,” Russ Flicker, principal of AWH Partners, said in a statement. “Further, the hotel finished a comprehensive rooms renovation within days of our closing, leaving us the opportunity to renovate the public spaces while enjoying ramp-up from the rooms.”
Glenn Alba, president of Opterra Capital, said, “The asset is well-positioned through its renovation to see increasing room-night demand through a variety of opportunities. Now recognized as the tech capital of the Midwest, Cincinnati hosts a number of Fortune 500 companies, professional sports teams, major convention centers, a revitalized riverfront district and a major research university.”
Connected to the Northern Kentucky Convention Center, the 14-story, 321-room Marriott at RiverCenter offers 30 event rooms and 16 breakout rooms. The property also provides an updated fitness center with indoor lap pool and a signature restaurant, 10 West.