Overview
HREC Investment Advisors (“HREC IA”) is pleased to offer, to qualified investors, the opportunity to acquire the fee-simple interest in the 117-room Red Roof Inn Toledo - University (“Hotel” or “Property”), situated at 3530 Executive Pkwy, Toledo, OH 43606.
The acquisition of the Red Roof Inn Toledo – University (the “Property” or “Hotel”) presents the buyer with the opportunity to purchase a product with strong in-place cash flows in a university submarket. The Hotel benefits from its location in West Toledo, with proximity to a wide range of demand generators, including the University of Toledo, ProMedica hospitals, and manufacturing facilities like Jeep and Owens-Corning. The Hotel represents a unique opportunity to enter an established market through a well-known brand.
Investment Highlights
Strategically Located off Interstate 475
This Property exhibits prime accessibility, being situated right off of Interstate 475. This strategic location ensures excellent exposure and convenient travel for visitors and commuters alike. Additionally, the Hotel benefits from its proximity to key area demand generators, including the University of Toledo, ProMedica, and major manufacturing plants.
Strong Market Penetration
The Hotel currently outpaces its comp set in occupancy, ADR, and RevPAR. As of the September 2024 TTM period, the Hotel currently over penetrates the comp set by 151.8% in occupancy, 105.3% in ADR, and 159.8% in RevPAR.
Offered Unencumbered by Management
The Red Roof Inn Toledo - University 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.
Diverse Demand Generators
Toledo’s diverse demand generators include major institutions in education, healthcare, tourism, and manufacturing. The University of Toledo, with over 14,000 students, drives economic impact through its academic programs and research, particularly in healthcare and engineering. ProMedica is the region’s largest healthcare provider, offering comprehensive services at its flagship hospital, ProMedica Toledo Hospital, while the Toledo Zoo and Glass City Riverwalk attract thousands of visitors annually, boosting tourism. Additionally, major manufacturers like Jeep and Owens Corning contribute significantly to Toledo’s economy, providing jobs and supporting the local industrial sector.
Consistent In-Place Cashflows
The Hotel consistently generates strong cash flows year after year.
Fee Simple Interest
The Property will be offered as fee simple.
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