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.