Commodore Perry Inn and Suites 255 W Lakeshore Dr Services hôteliers 69 chambres 2 837 193 € (41 119 €/Chambre) Port Clinton, OH 43452

Location, Location, Location - Commodore Perry Inn & Suites is a 67 room boutique hotel overlooking the beaches and islands of Lake Erie. Amenities include a 5,000 SF restaurant and pool and patio bar. The Sandusky and Port Clinton region, known as "Shores & Islands Ohio" (Erie and Ottawa Counties), welcomes an estimated 13 million visitors annually. Known for its beaches, boating, island ferries, shopping, entertainment and world class fishing, the region draws from the Cleveland, Detroit, Columbus and Toledo areas. The area is also home to the world renowned Cedar Point Amusement Park. Also, the hotel is a 5 minute walk to the ferry to Put-in-Bay Island which attracts over 750,000 tourists alone annually.
Outstanding Value-add Opportunity - This is not a stabilized yield play. It's a value-add opportunity in a location that's already proven. The current ownership has underperformed operationally, which creates significant upside for the next buyer. The asset has strong fundamentals: outstanding visibility, demand drivers and below market operational performance relative to the comp set. A capable operator can significantly increase ADR, improve occupancy, and unlock NOI growth without needing to create demand from scratch. You're buying the real estate and the upside, not the current management story. If this hotel were already optimized, it wouldn't be available at this basis. The location does the heavy lifting - the next owner just needs to execute operationally. We see clear paths to improving RevPar and NOI through management, branding, and revenue strategy.