Receiver Sale: Courtyard & TownePlace Suites | Cleveland Westlake

Description:

Ri Marketplace Online Auction August 11-14, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2615/receiver-sale-courtyard-towneplace-suites-cleveland-westlake?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=hospitality_2615

Alchemy Real Estate Advisors, in conjunction with RealINSIGHT Marketplace, is pleased to present for sale the Marriott Cleveland Westlake portfolio, consisting of the 122-room Courtyard and 85-room TownePlace Suites hotels. This Marriott-branded portfolio presents investors with a unique opportunity to acquire a total of 207 rooms through a receivership sale. Offered free and clear of management and debt, the portfolio allows for immediate repositioning and value creation—whether through relicensing with Marriott under new terms or introducing operational improvements through an experienced regional operator.

One of the compelling aspects of this opportunity is its income diversification. In addition to the two hotel properties, the sale includes two retail sites operating as a Carrabba’s Italian restaurant and Cozumel Mexican restaurant which provides investors with additional revenue to support overall cash flow. The properties are positioned directly off the high-traffic I-90 and Columbia Road interchange—exposing them to over 90,000 vehicles per day—and sit in the heart of the Westlake corporate corridor. Notable nearby employers include Nordson, American Greetings, Hyland Software, and TravelCenters of America, all of which contribute to strong weekday lodging demand.

The hotels' proximity to Crocker Park—an upscale mixed-use destination with over one million square feet of retail, office space, and hundreds of residential units—further elevate the appeal to business and leisure travelers alike. In addition, Cleveland’s central attractions—including the Cleveland Clinic, Progressive Field, Huntington Bank Stadium, and the 500,000-square-foot Huntington Convention Center—are all within easy reach.

Looking ahead, the broader market is poised for even more upside. Cleveland Hopkins International Airport, which served over 10 million passengers in 2024 (its highest since 2008), is undergoing a transformative $1.6 billion multi-phase renovation aimed at expanding capacity and enhancing passenger experience. As Cleveland’s infrastructure and travel volumes continue to grow, this offering positions investors to capitalize on renewed momentum in both the regional hospitality and broader commercial sectors.

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