Red Roof Inn Columbus Ohio State Fairgrounds

Property Listed by Richards Schuen License Number: BRKP.0000323756

Property tours are by APPOINTMENT ONLY. Any attempts to visit/contact property without agent approval will result in a ban from all future listings! Prospective buyers can view financial history including revenue, NOI, ADR, and Occupancy by clicking "Download OM" and signing a confidentiality agreement. This property is currently listed as unpriced. NO PRICING GUIDANCE IS AVAILABLE. Ownership will review and respond to all offers and ultimately select the offer with the best price and terms.

Colliers, as an exclusive representative of the seller, is pleased to present to qualified investors the Red Roof Inn Columbus – Ohio State Fairgrounds located at 1221 E Dublin Granville Road, Columbus, OH 43229. The Red Roof Inn is an 83 room, two story, interior corridor, limited-service asset. The property is well-located with frontage on E Dublin Granville Road (43,980 vehicles per day) and Interstate-71, north of downtown (80,000 vehicles per day).

The hotel consists of 83 guest rooms and benefits from a variety of stable demand generators including tourism/leisure, medical, higher education, transient, and commerce. Key tourism and leisure demand generators in the area include the Columbus Zoo and Aquarium, and The Mall at Tuttle Crossing which is a mixed-use development that includes shopping and restaurants. Key Medical generators include the OhioHealth Dublin Methodist Hospital and the Nationwide Children’s Hospital. Key higher education demand generators include the Ohio State University. Key transient demand generators include the hotel’s position along I-71, a major north-south interstate that connects Columbus to cities such as Cincinnati and Cleveland. More transient demand generators are the proximity to the John Glenn Columbus International Airport, 13.5 miles southeast of the hotel, and the Rickenbacker International Airport, 23.8 miles south of the hotel. Key business demand generators include Nationwide Mutual Insurance Company, Ohio State University, Anheuser-Busch, and JP Morgan Chase.

Despite absentee ownership, the hotel achieved a RevPAR index that exceeded 140% in 2022. However, due to staffing challenges at the hotel, the hotel’s RevPAR penetration index dipped to 101% in 2023, presenting an opportunity for a new local owner operator to reposition the hotel as the leading lodging option within the competitive set, and to return to RevPAR indices shown in 2022 and 2021 of 142% and 131% respectively. This is versus a competitive set of Econo Lodge Worthington, Motel 6 Columbus – OSU North, M Star Hotel Columbus North, Super 8 Columbus North, Motel 6 Columbus OSU. The hotel is expected to trade with a long-term franchise agreement with Red Roof Inn.