How Matthews™ Facilitated the Sale of an Ohio Hospitality Asset at $80K Per Key
Matthews™ facilitated the $80K per key sale of the Best Western Plus Dutch Haus Inn & Suites located in Columbiana, Ohio. The Matthews™ agents managed a transaction involving a long-term family-owned hospitality asset that had been developed and operated by the same ownership since 2000. The developer sought to transition into retirement while maximizing retained value from the surrounding real estate. Through targeted outreach and database-driven marketing efforts, the agents identified an out-of-state buyer aligned with the operational opportunity presented by the property. Challenge During escrow, the Matthews™ agents encountered a complex land replatting process required to outparcel a neighboring retail site from the hotel property. They coordinated closely with the buyer, seller, city officials, and county representatives to ensure the process remained on schedule and compliant with local requirements. Additionally, the hotel’s declining revenues created challenges surrounding debt service coverage ratios and financing qualification. Strategy To overcome financing concerns, the agents worked directly with a local lender capable of structuring attractive conventional financing despite tighter operating margins. They positioned the property’s upside potential around more hands-on management and operational improvements under new ownership. Throughout the process, the agent maintained consistent communication among all parties to navigate the escrow complexities and minimize delays tied to the land replatting requirements. Matthews’™ email campaigns and shared database exposure also played a key role in attracting qualified out-of-state interest for the asset. Result The transaction successfully closed at $80K per key, also allowing the seller to retain ownership of the adjacent retail site. The Matthews™ agents helped the seller fully cash out equity accumulated through decades of ownership and transition into retirement without the ongoing demands of hotel operations. The buyer was able to relocate a family member closer to relatives while acquiring a hospitality asset with operational upside potential. Through proactive coordination and strategic problem-solving, the agents delivered a smooth closing despite financing and entitlement-related challenges.
Luke Whittaker
Associate
