HREC advises sale of Sheraton Cleveland Airport Hotel

HREC Investment Advisors arranged the sale of the 242-room Sheraton Cleveland Airport Hotel located in Cleveland, Ohio. Ted Anka, VP in HREC Investment Advisors’ Chicago and Miami offices, advised both buyer, Lakshmi Narayan Hospitality Group, and seller, Hopkins Partners, during the transaction.

Located only a mile from the Hopkins International Airport and 12 miles from downtown Cleveland, the Sheraton benefits from demand generators such as the Browns Stadium, Progressive Field, Quicken Loans Arena, Rock & Roll Hall of Fame, the Cleveland Science Center and both the Hopkins International Airport and Burke Lakefront Airport.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Suggested Articles

The absolute occupancy and RevPAR levels were the lowest for any Q3 in STR’s U.S. database.

U.S. hotel occupancy was virtually flat at 50.1 percent during the week of Oct. 11-17, according to the latest data from STR. 

Kansas-based management and ownership company True North Hotel Group is opening four new hotels within a month.