The opportunity offered herein represents The Terrace Cincinnati Hotel (“The Hotel”). The Hotel is located within The Terrace Building, a 600,000 square foot mixed-use building consisting of 280,000 square feet of rentable vacant space and 18,000 square feet of retail. The building is located at 15 West Sixth Street, between Vine Street and Race Street, in the Fountain Square District of Cincinnati, Ohio.

The Terrace Cincinnati Hotel is a full service, 375 bay, 320 key hotel. Of the 320 guest rooms, 45 are two-room suites. The hotel is located on the 8th through 20th floors of the Terrace building (the building does not contain a 13th floor).

The Hotel is being offered free and clear of any franchise encumbrances and hotel management contract is currently being operated as an independent hotel. A number of excellent franchise opportunities exist for the hotel. To date, conversion interest has been shown by Holiday Inn, Doubletree and Sheraton in the upscale, full-service sector, Hilton Garden Inn and Sheraton Four Points in the select-service sector.

The Hotel has an exceptional, irreplaceable location in the heart of Cincinnati’s CBD. The location is near major area business and leisure demand generators, and within walking distance to the Cincinnati Convention Center; Paul Brown Stadium, home of the
Cincinnati Bengals; Great American Ball Park, home of the Cincinnati Reds; Aronoff Center for Performing Arts; US Bank Arena; and Fountain Square. Additionally, the corporate headquarters of Fifth Third Bank, Federated Department Stores, American
Financial Group, Kroger, Procter & Gamble and Cinergy, all members of the Fortune 500, are located nearby.
The Hotel has excellent access and visibility. It is strategically located off of Interstate 71 and 75, two major interstates that connect the downtown to the Cincinnati beltway.

PRICE: Purchase Price: $19,500,000 - Price Per Room: $60,937

MARKET AREA OVERVIEW
Downtown Cincinnati offers seven full-service hotels, collectively providing 2,925 rooms to service the area’s burgeoning demand. Occupancy rates at 59.6% for 2005 have been on a steady climb since 2001, and market conditions indicate that this trend will continueinto the future.

Detailed Information is available.
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Cincinnati: The City
Cincinnati is one of the 25 largest metropolitan statistical areas in the United States. The 15-county Cincinnati region consists of 2.1 million people and sits at the intersection of Ohio, Kentucky and Indiana. Centrally located, Cincinnati is within 600 miles of half of the nation’s population. The Greater Cincinnati area benefits from having one of the nation’s fastest-growing airports, The Cincinnati/Northern Kentucky International Airport. Currently realizing historic investment into an elaborate City-wide revitalization plan, Cincinnati is in the process of injecting more than $3 billion into the city, resulting in what Fortune Magazine considers to be “One of the Top 10 places in the country
to live and work.

Over the past several years, Cincinnati has received national attention for this revitalization effort. Planning and support have come from a host of different organizations, including: local, state and federal government, public and private companies, and citizen led groups. As a focal component to the revitalization and repositioning of Cincinnati, the Fountain Square District, where The Hotel is located, is currently the beneficiary of an elaborate $42 million dollar redevelopment plan which includes a large urban-style outdoor park and features a state-of-the-art large LED screen, broadcasting an exciting range of programming. In addition, approximately $70 million is being spent by the surrounding property owners to help the Fountain Square District anchor Cincinnati’s revitalization plan.

Detailed Information is available.
Request an Offering Memorandum