597-Key Hospitality Portfolio Changes Hands in Columbus

Schulte Hospitality Group along with a private equity firm acquired both hotels in a transaction facilitated by The Plasencia Group.

Columbus, OhioThe Plasencia Group recently announced the sale of a 597-key hotel portfolio in Columbus, Ohio. Schulte Hospitality Group along with a private equity firm based in the Northeast acquired the Sheraton Columbus Hotel at Capitol Square and the DoubleTree Suites by Hilton Hotel Columbus Downtown.

Sheraton Columbus Hotel at Capitol Square & DoubleTree Suites by Hilton Hotel Columbus Downtown Columbus, Ohio

Sheraton Columbus Hotel at Capitol Square & DoubleTree Suites by Hilton Hotel Columbus Downtown Columbus, Ohio

Located at 75 E State St, Sheraton Columbus Hotel at Capitol Square features 403 rooms and 7 suites along with amenities such as a fitness center, Wi-Fi and a pet-friendly policy.

Located at 50 S Front St., DoubleTree Suites by Hilton Hotel Columbus Downtown features 187 guestrooms and a list of amenities including a business center, meeting rooms and Wi-Fi. The property sits near the Greater Columbus Convention Center and arena district and is a 15-minute drive from the Port Columbus International Airport.

“This exchange represents a meaningful segment of the available hotel room inventory in downtown Columbus,” said Rich Conti, senior managing director of The Plasencia Group, in prepared remarks. “The new owners will benefit from entering a flourishing market with recently renovated, high quality properties with significant upside potential.”

According to Chris Plasencia, vice president of The Plasencia Group, both properties will continue to benefit from the Columbus market’s diversified economy. “In particular, the energy and industry catalyzed by both the state capital and Ohio State University have historically allowed Columbus to weather any economic downturn,” Plasencia added.

Image courtesy of The Plasencia Group