Overview
The Fairfield Inn & Suites Lima represents a strong value-add opportunity. Situated amidst a hub of healthcare, government, and manufacturing demand generators, the Hotel benefits from its proximity to key attractions Cenovous Energy, General Dynamics, Mercy Health, and St. Rita’s.
Furthermore, Lima’s business-friendly climate has lead to many companies relocating there, including P&g, Perry proTech, and U-Haul. Unencumbered by management, the Hotel provides flexibility for a new Owner to optimize operations and capitalize on the city's fast-growing economic landscape. With its fee simple tenure and attractive location, the Fairfield Inn & Suites Lima is a compelling investment in a strong market.
Investment Highlights
Business Friendly Environment
Lima’s ideal business development environment encourages ongoing corporate relocation and development, specifically through the region’s avid Arctaris-Lima Opportunity Zone Fund Initiative, which maximizes opportunities for corporate entities. New investors can capitalize on the region’s increasing corporate activity and support from the Lima/Allen County Chamber of Commerce.
Benefits from Lima’s Robust Economy and Diverse Demand Generators
The Hotel enjoys its prime location less than one mile from the University of Northwestern Ohio and is surrounded by a variety of Lima’s primary manufacturing and military demand generators. The Hotel is proximate to Cenovous Energy, General Dynamics, the Ohio National Guard, and Lima Tank Plant. Furthermore, Lima’s robjust economy is rich in healthcare the health care and social assistance demand generators. Within two miles of the hotel are leading medical players, like Mercy Health and St. Rita’s Medical Center.
Brand Optionality
New Ownership has the opportunity to extend current license for another 10 years with minimal PIP or purchase the Property unencumbered by brand.
Value-Add Offering
The Hotel will require a full PIP upon sale, improving the standing of this property in relation to the competitive set.
Unencumbered by Management
The Fairfield Inn & Suites Lima is being offered unencumbered by a management agreement. An investor possesses the opportunity to bring in a new management company or to act as an owner/operator and seek to revamp the operational strategy of the Hotel, implement strategic cost control initiatives, and employ more aggressive yield management strategies.
Fee Simple Interest
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