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1501 Nicholas StOmaha, NE 68102
Fairfield Inn & Suites Omaha Downtown
Asset ClassHotel & Hospitality
overview of deal

Overview

HREC Investment Advisors (“HREC IA”) is pleased to offer qualified investors the opportunity to acquire the fee simple interest in the 113-room (“Hotel” or “Property”), which opened in 2008 and is located at 1501 Nicholas St, Omaha, NE 68102.

 

The Fairfield Inn & Suites Omaha Downtown presents a true value-add acquisition opportunity in a stable RevPAR market with no planned or proposed additions to supply in the downtown Omaha submarket. Located in the heart of downtown Omaha, the Property is a short walk to the key demand generators including Charles Schwab Field, home of the College World Series and Creighton baseball (0.3 miles), Creighton University (0.5 miles), CHI Health Convention Ctr/Arena (0.6 miles), Kiewit University (0.3 miles), Steelhouse Omaha concert venue (0.9 miles), the historic Old Market dining and entertainment district (1.0 miles), and upon completion of Mutual of Omaha Insurance Company’s new 44-story, 800,000 square foot headquarters (est. completion 2026), The Fairfield will be one of the closest hotels to that office development (0.8 miles).

 

Opened in April 2008, the Hotel is due for Marriott’s full 14-year renovation plan, which will allow for increased demand capture in the Upper Midscale market in which the hotel is currently under-performing. Typically, Marriott hotels outperform their market’s competitive set, which should enhance this hotel’s demand capture post-renovations as the downtown Omaha hotel market completes its $4 billion dollars of economic development projects currently underway, allowing a new owner to capitalize on a newly renovated Marriott product and implement their own revenue management initiatives and expense controls to improve cash-flow in one of Omaha’s strongest submarkets.

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Investment Highlights

  • Strong Market with Diverse Demand Generators: The Fairfield Inn & Suites is situated in downtown Omaha, offering guests easy access to a vibrant array of attractions. Downtown Omaha is known for its rich cultural scene, with various art galleries, theaters, and music venues that reflect the city’s diverse heritage. The Property is located within one mile of key demand generators such as Orpheum Theater, The Old Market district, First National Bank headquarters, and The Holland Performing Arts Center. Additional demand generators include CHI Health Center Omaha arena and convention center, Creighton University, Charles Schwab Baseball Field, Kiewit University, and Mutual of Omaha.
  • Economic Development: Approximately $4 billion of real estate development is currently underway in downtown Omaha. Chief among these projects is the new headquarters of Mutual of Omaha Insurance Company, located seven blocks from the Hotel. The 44-story, 800,000 square foot office building carries an estimated development cost of $600 million.
  • RevPAR Upside: A comprehensive renovation will enhance the hotel’s demand capture as downtown Omaha completes the $4 billion dollars of economic development projects currently underway.
  • No New Supply: There are no new hotels under construction in the downtown Omaha market.
  • Offered Unencumbered by Management: The Property is being offered unencumbered by a management agreement.
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1501 Nicholas StOmaha, NE 68102
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Listing provided by Revere CRE