Prestigious Asset in Landmark Building: The Hyatt Regency Cleveland at The Arcade stands as a prestigious hospitality gem, housed within a landmark building constructed in 1890, boasting 293 rooms. Situated in the heart of downtown Cleveland, this historic hotel offers guests a unique experience surrounded by architectural marvels. Luxurious suites and spacious guest rooms provide comfort, while amenities like Marengo Luxury Spa and on-site shopping enhance the guest experience. According to Architectural Digest, the Hyatt Regency Cleveland at The Arcade has been selected as one of the 27 most beautiful lobbies in the world in 2024.
Proximity to Major Corporate Headquarters and Cultural Landmarks: Located within the historic Arcade Cleveland, the first indoor shopping mall in America, the Hyatt Regency Cleveland at The Arcade enjoys a prime location close to corporate headquarters and cultural attractions. Situated near major sports arenas such as the Rocket Mortgage FieldHouse, Progressive Field - MLB Cleveland Guardians, and Cleveland Browns Stadium, it appeals to travelers seeking diverse experiences. Landmarks like Playhouse Square and The Arcade Cleveland itself attract leisure travelers, contributing to lively foot traffic. This strategic location ensures a steady flow of corporate, group, and leisure guests, boosted by its proximity to the vibrant East 4th Street Entertainment District and other major entertainment venues. Additionally, the hotel’s positioning provides easy access to notable corporate headquarters like KeyCorp, Sherwin-Williams, and Progressive Insurance, catering to discerning business travelers seeking quality accommodations and dining options.
Renowned Wedding Venue with Comprehensive Event Services: Renowned as one of downtown Cleveland’s premier wedding venues, the Hyatt Regency Cleveland at The Arcade offers an enchanting setting for couples to declare their love and celebrate their union. The historic charm and architectural splendor of The Arcade provide an unforgettable backdrop for wedding ceremonies and receptions, drawing couples from both near and far. With seven versatile event spaces, accommodating varying capacities, including the largest space capable of hosting up to 400 guests, the property caters to a range of event needs. These spaces can be tailored for various occasions, from business meetings to rehearsal dinners, standing receptions, and breakout sessions. Moreover, the property offers additional event services such as event planning, catering, and wedding photography, ensuring a seamless and memorable experience for couples and their guests. Hyatt Regency Cleveland at The Arcade has been awarded The Best of Weddings 2024 by the Knot, and WeddingWire ‘s Couples’ Choice Award in 2024.
Strategic Location Amidst City Growth: Positioned in the midst of Cleveland’s revitalization, the Hyatt Regency Cleveland at The Arcade is ideally situated to benefit from the city’s growth trajectory. The Cleveland Cavaliers’ groundbreaking on a new downtown practice facility underscores the city’s commitment to economic development and urban renewal. The facility, named the Cleveland Clinic Global Peak Performance Center, promises to bring additional energy and activity to the area, further enhancing the hotel’s appeal to visitors and investors alike. The Hotel Cleveland benefits from its strategic location near Cleveland Hopkins International Airport, one of the major airports serving the Cleveland metropolitan area. Cleveland Hopkins International Airport offers convenient travel options for domestic and international guests, enhancing the accessibility of the hotel to a wider range of travelers.
Potential for Increased Revenue and Control: Currently managed by Hyatt, the Hyatt Regency Cleveland at The Arcade offers potential for increased revenue and control under new ownership. This shift in management could unlock additional revenue streams and operational efficiencies, maximizing the property’s potential as a premier hospitality asset.
Lucrative Retail Opportunities with Prime Lease Spaces Occupied by Diverse Tenants: The property offers lucrative retail opportunities, with several prime spaces available for lease, complementing its diverse revenue streams. Current tenants include Marengo Luxury Spa, Bob Wittbrot - Erie Insurance,Cuyahoga County Soldiers and Sailors, United States Post Office, The Library Shop, The Arcade Chiropractic, and Cilia Lash and Brow Academy, contributing to the property’s dynamic atmosphere and offering investors an opportunity to capitalize on Cleveland’s thriving retail landscape, enhancing the property’s appeal and revenue potential.
Unencumbered Offering: This offering presents investors with the opportunity to acquire the property unencumbered by management or existing debt, allowing for strategic operational decisions to maximize revenue growth and profitability.
BROKER OF RECORD
Michael Glass
Ohio
P: (614) 360-9800
Lic #: BRK.2007005898
