In Brief: Laurel Real Estate Co. has represented the seller in the sale of the Holiday Inn Cleveland Northeast in Mentor, signaling continued investment activity and ownership changes in the Ohio hospitality market.
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Holiday Inn Cleveland Northeast – Mentor – Image Credit Hotel Brokers International
Laurel Real Estate Co., a boutique commercial real estate brokerage and member of Hotel Brokers International, announced the successful sale of the Holiday Inn Cleveland Northeast – Mentor, where the firm represented the seller. The property was acquired by a new ownership group that plans to continue operating the hotel.
“This was a particularly complex transaction that required a high level of coordination among everyone involved,” said Lauren D’Souza-Faze, Vice President of Laurel Real Estate Co. “From the buyer and seller to the lender, title companies, attorneys, and everyone else involved, it was truly a collaborative effort. We’re grateful for the professionalism and commitment of everyone who worked together to bring the deal across the finish line.”
The Holiday Inn Cleveland Northeast – Mentor is located along the Interstate 90 corridor approximately 25 miles northeast of downtown Cleveland. Mentor is home to more than 1,700 businesses employing over 59,000 people and is one of Northeast Ohio’s leading centers for advanced manufacturing, with companies including STERIS and Avery Dennison among its major employers. The area also benefits from regional healthcare activity and year-round leisure travel generated by Lake Erie, Headlands Beach State Park, and other Lake County attractions. Those diverse demand generators continue to make the market an attractive destination for hospitality investment.
“The Mentor lodging market is attractive because it isn’t dependent on any single source of demand,” said Errol D’Souza, President of Laurel Real Estate Co. “Business travelers, healthcare-related travel, advanced manufacturing, and leisure visitors all contribute to the market’s performance, creating balanced demand that appeals to hospitality investors.”
As a member of Hotel Brokers International (HBI), Laurel Real Estate Co. provides clients with national marketing exposure and access to a worldwide network of hospitality real estate professionals and qualified hotel investors.
Laurel Real Estate Co. represented the seller in the transaction. Terms of the sale were not disclosed. The firm wishes both the buyer and seller continued success.
About Laurel Real Estate Co.
Laurel Real Estate Co. is a family-owned boutique commercial real estate brokerage with over 30 years of dedicated focus on the sale and acquisition of hospitality assets throughout the Midwest. The firm works with hotel owners, investors, and operators at every stage of a transaction, from valuation and marketing through negotiation and closing. Laurel Real Estate Co. is a member of Hotel Brokers International (HBI), the leading professional organization for hotel brokers in North America. Learn more and view active listings at laurelhotelbrokers.com.
About Hotel Brokers International
Hotel Brokers International is the leading network of hotel brokerage specialists, providing industry insights, transactional support, and professional development to members worldwide. Founded in 1959, HBI has facilitated thousands of hotel sales and remains a trusted resource for hotel real estate professionals. HBI is also the founder and administrator of the Certified Hotel Broker (CHB) designation—the only professional certification program for hotel brokers in the real estate industry. For more information, visit HBIhotels.com.
For more information:
Lauren D’Souza-Faze
Vice President, Laurel Real Estate Co.
380.799.6608
[email protected]
Glenda Webb
Executive Director
Hotel Brokers International
816.505.4315
[email protected]
