INVESTMENT HIGHLIGHTS

HUNTER HOTEL ADVISORS has been exclusively retained relating to the solicitation of offers to acquire the 408-room Renaissance Columbus Downtown Hotel located at 50 N 3rd St in Columbus, Ohio (the “Hotel”, “Asset” or “Property”). The Renaissance Columbus Downtown Hotel features a rooftop pool, a fitness center, 23,810 square feet of event space, and 2 F&B Outlets: Latitude 41 and Bar 41. The Hotel is situated in the heart of downtown Columbus, within walking distance of Columbus’ key demand generators including the Ohio Statehouse, Ohio Theatre, and the Greater Columbus Convention Center, and is less than a mile from several of Columbus’ most notable districts, including: i) the Arena District comprised of Nationwide Arena (Columbus Blue Jackets - NHL), Huntington Park (Columbus Clippers - MiLB), and Lower.Com Field (Columbus Crew -MLS); ii) the River South District; iii) Fourth & Main; iv) Discovery District; v) Short North Arts District.  

This deal represents an exceptional investment opportunity for a hotel with a prime location proximate to Columbus’ most dynamic and rapidly growing leisure and corporate demand drivers, with significant upside potential upon conversion from a Marriott-managed deal to a franchised operation and completion of a change of ownership PIP.  The Property is offered fee simple and at a significant discount to replacement cost.  

PRIME LOCATION PROXIMATE TO COLUMBUS’ DYANMIC DEMAND DRIVERS: The Hotel is strategically located within walking distance of Columbus’ key attractions including the Ohio Statehouse, Ohio Theatre, and the Greater Columbus Convention Center, and is less than a mile from: i) the Arena District comprised of Nationwide Arena (Columbus Blue Jackets - NHL), Huntington Park (Columbus Clippers - MiLB), and Lower.Com Field (Columbus Crew -MLS); ii) the River South District; iii) Fourth & Main; iv) Discovery District; v) Short North Arts District. The Hotel is only 2.3 miles from The Ohio State University, the 4th largest public university by enrollment in the country, with over 66,900 students. Corporate demand is fueled by its proximity to several corporations, including: Huntington Bancshares Inc HQ (#375 Fortune 500, 0.3 miles), Nationwide Insurance HQ (#75, 0.5 miles), American Electric Power HQ (#217, 0.5 miles), Abbott Nutrition (1.5 miles), White Castle HQ (1.5 miles) Cardinal Health (#14, 7 miles), and Bath & Body Works HQ (#481, 11 miles). 

CASH FLOWING ASSET WITH SIGNIFICANT OPERATIONAL UPSIDE: The Hotel achieved a TTM December 2024 RevPAR of $95.84 despite offering a more dated product than comparable hotels in the market. For the same period, the Hotel achieved a Total Revenue of $21.1M and generated only $3.6MM (17.2% margin) in NOI. Significant upside remains upon completion of a change-of-ownership PIP and conversion from a Marriott-managed deal to a franchised operation. The improved product offering and revamped management strategy combined with continued market growth expectations will result in RevPAR and NOI levels well exceeding in-place metrics.

SIGNIFICANT EVENT SPACE DEMAND WITH UNTAPPED REVENUE POTENTIAL: The Property offers one of the largest event spaces in Downtown Columbus, encompassing over 23,000 square feet of private meeting and function rooms. With 18 event rooms and 16 breakout areas, the Hotel has the flexibility to accommodate a wide range of functions, from small meetings to large conventions. In addition to its top-tier meeting facilities, the Hotel provides exceptional in-house catering services, distinguishing it as a premier destination for conventions, weddings, sports teams, and competitions. Currently underutilized, this expansive space presents significant upside potential by implementing a more targeted sales and marketing efforts to attract additional group and event business upon completion of the change of ownership PIP.

LIMITED NEW SUPPLY IN AN EXPONENTIALLY GROWING TOURIST MARKET: The Renaissance Columbus Downtown Hotel is poised to benefit from Columbus’ projected 35% population increase over the next 25 years.  With a record over 51 million visitors in 2023 and more than $1.9 billion in construction projects underway, including a new inpatient hospital tower at The Ohio State University Wexner Medical Center, the city is primed for sustained and exponentially growing demand. As of January 2025, only one 197-key hotel is under construction within a 1.7-mile radius of the Property, and there are no new hotels planned in the immediate Downtown Columbus region. This limited pipeline mitigates the risk of top-line revenue disruption from new market entrants.

OFFERED BELOW REPLACEMENT COST IN HIGH GROWTH MARKET: The Property is being offered at a significant discount to replacement cost.  According to HVS’ 2024 Development Survey, comparable full-service hotels survey nationwide had median total development costs of $405K/key. 

LISTING CONTACTS

FINANCING CONTACT

PHOTO GALLERY

ABOUT HUNTER

Hunter Hotel Advisors is the leading investment advisory firm focused exclusively on the hotel industry. Their seasoned team of investment professionals and offices nationwide consistently provide clients with optimal results in hotel brokerage, financial advisory and capital markets services of any size or complexity. With over 45 years of experience in both full and select-service single assets as well as portfolio marketing, the firm’s capacity in valuation, economic analysis, and industry relationships has allowed HUNTER to consistently maximize value regardless of market conditions.

Hunter Hotel Advisors is the founder and producer of the well-known and respected Hunter Hotel Investment Conference. Since their first conference in 1989, they have had a consistent focus on producing an educational and networking format based on real estate and finance for hotel owners.