A joint venture comprised of Crawford Hoying and Shaner Hotels recently completed the development of TownePlace Suites Columbus North-OSU in Upper Arlington, Ohio. The 119-key property is part of Crawford Hoying’s Westmont at The Lane mixed-use development.
Carrying the address of 1640 W. Lane Ave., the Marriott International-branded TownePlace Suites sits just two miles from the Ohio State University Campus and roughly five miles north of downtown Columbus in the burgeoning Lane Avenue corridor.
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“The Lane Avenue corridor is the City’s most rapidly evolving commercial district. This transformation has enhanced the area’s vibrancy and appeal, providing new dining, retail, housing and service options,” according to the City Manager’s June 2020 update on the Lane Avenue Planning Study Report.
TownePlace Suites is one of only two lodging destinations in the community. The five-story hotel offers amenities such as a business center, fitness facility, nearly 1,000 square feet of meeting space and the TownePlace Suites’ signature In a Pinch market.
Despite interruptions as a result of the pandemic, Crawford Hoying and Shaner Hotels managed to deliver TownePlace in short order, having commenced construction on the project in July 2019. Shaner is also serving as operator of the property.
FIT FOR SURVIVAL
Every segment of the hotel sector has suffered the consequences of the COVID-19 pandemic; however, the extended-stay model is proving to have the upper hand.
“In order to manage costs, many higher-end hotels have suspended certain amenities that normally support a premium rate. Current travelers are instead focusing on sanitized accommodations and features such as kitchens that support physical distancing,” according to a third quarter 2020 report by Marcus & Millichap.
Such options have significantly pushed down foot traffic —by as much as 50 percent in April and May—at some extended-stay hotels and other higher-cost brands, the report stated. “Amid fewer differentiating services and greater financial disruptions, guests are zeroing in on the bottom-line room rate.”