Berkadia Hotels & Hospitality has been exclusively retained to offer for sale the fee simple interest in the 241- key Renaissance Toledo Downtown (the “Hotel,”“Asset,” “Property,” or “Renaissance”). Built with premium reinforced concrete and steel construction and having completed $4.3 million ($18k/key) of renovations between 2019 – 2024, the 14-story, AAA Four Diamond-rated Hotel is in excellent condition and boasts a robust amenity base that includes two full-service restaurants, Brim House and The Heights (only rooftop cocktail lounge in all of Toledo), in addition to the largest ballroom (11,000 square feet) and total amount of meeting space (15,792 square feet) of any hotel in Toledo proper, making it the premier meetings and conventions hotel in the submarket. Moreover, the Renaissance benefits from considerable supplementary revenue streams stemming from valet parking and leased retail space (5,640 square feet) on the ground-level floor, currently occupied by ProMedica. The Asset is being offered fee simple, non-union, unencumbered of management, with a new 15-year FLA from Marriott, and at an outstanding discount to replacement cost and regional comparable sales.

As the only full-service lodging asset and Marriott-affiliated hotel in downtown Toledo, the Renaissance will provide a new owner with a well-positioned Hotel poised to increase its market share beyond its current 97% RevPAR index. A new owner will also be able to leverage a refreshed product offering upon completion of a change of ownership PIP to further drive top-line performance. Moreover, there is immediate margin efficiency and cash flow appreciation potential with the installation of a new operator, providing attractive exit capitalization opportunities.

Ideally positioned directly along the Maumee Riverfront in the heart of Downtown Toledo (3 million annual visitors), the Renaissance enjoys access to a rapidly transforming and diverse urban hub that features 9.7 million square feet of office space (7.7% vacancy rate), five Fortune 500 company headquarters, and a downtown core that has seen over $2 billion of capital deployed over the past 5 years. Visitors enjoy walkability (71 walk score) to the submarket’s premier demand generators such as the $70 million Glass City Center Convention Center (192 event days in first year), Huntington Center (8,000-seat event venue), the Toledo Museum of Art (380,000 annual visitors), Fifth Third Field (Home of the Toledo Mud Hen’s), Imagination Station (200,000 annual visitors), and Glass City Metropark. The Asset is also only a short drive from the Toledo Zoo (1.1 million annual visitors), Hollywood Casino Toledo, and the 1,336-acre Maumee Bay State Park. Paired with its proximity to numerous corporate headquarters (ProMedica, Fifth Third Bank, Owens Corning), an industry-leading loyalty program of more than 237 million global members (Marriott Bonvoy), no hotels under construction within Lucas County, and an active +$2.2 billion development pipeline, the Renaissance Toledo is a compelling investment opportunity in the current economic landscape and provides investors with a highly attractive basis.