In Brief: CBRE has listed the 85-room TownePlace Suites Findlay in northwest Ohio for sale. The extended-stay hotel is being offered without an existing management agreement, allowing a buyer to select an operator.
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TownePlace Suites Findlay – Image Credit CBRE
CBRE has listed the TownePlace Suites Findlay at 2501 Tiffin Avenue in Findlay, Ohio, for sale. The offering includes fee-simple interest in the property, meaning a buyer would own the hotel and its real estate.
The hotel has 85 rooms and a reported building area of 50,548 square feet. It is located near the U.S. Route 224 commercial corridor, which provides access to employers, medical facilities, retail properties and other sources of local lodging demand in Hancock County.
The property is being marketed without an existing management agreement. That arrangement would allow a buyer to select a management company or establish another operating structure, subject to the terms of the hotel’s franchise license. The property operates under Marriott International’s TownePlace Suites brand.
CBRE did not disclose an asking price, expected sale date, bidding deadline or financial terms for a potential transaction.
Operating Performance
The hotel recorded trailing 12-month revenue per available room, or RevPAR, of $78 through August 2026. RevPAR is a hotel-industry measure that combines room occupancy and average daily rates.
The property also posted a revenue generation index, or RGI, of 132% during the same period, CBRE said. An index of 100% indicates performance equal to a defined group of competing hotels. An RGI of 132% means the property’s RevPAR was 32% above that comparison group. The marketing materials did not identify the hotels included in the competitive set or provide separate occupancy and average-rate figures.
CBRE described the hotel’s financial performance as stable and identified potential operational changes and capital improvements as ways a new owner could increase revenue.
Rooms and Amenities
The three-story hotel contains 59 studio units, 13 one-bedroom units and 13 two-bedroom units. Its extended-stay format is designed to serve guests who need lodging for longer periods, including corporate travelers, project workers and leisure visitors.
Amenities include complimentary breakfast, a business center, a fitness center, an outdoor swimming pool and Wi-Fi. The property has 98 surface parking spaces and two passenger elevators. Building information supplied with the listing describes a concrete slab-on-grade frame, an asphalt-shingle roof, insulated windows and a full sprinkler system.
Guest rooms are served by packaged terminal air-conditioning and vertical terminal air-conditioning systems, commonly known as PTAC and VTAC units.
Findlay Market and Local Demand
Findlay serves as an industrial, logistics, health care and business center in northwest Ohio. CBRE said the hotel benefits from proximity to large regional employers, corporate offices and medical facilities, which can generate demand from employees, contractors, patients and visitors.
The brokerage also cited $2.5 billion in regional capital investment during the past 11 years. Its marketing materials described Findlay as a top-ranked U.S. micropolitan area for 11 consecutive years, although the listing excerpt did not name the organization responsible for that ranking or explain its criteria.
A micropolitan area generally centers on an urban population of at least 10,000 but fewer than 50,000 residents. Such markets can support hotel demand through manufacturing, logistics, health care, education and regional business activity, but they may also depend heavily on a limited number of major employers.
Inquire at CBRE.