Ariel Broadway Hotel
Ariel Broadway Hotel, Lorain, OH 44052-2114
Marketing description
Ariel Broadway Hotel is a 56-room boutique hotel directly across from Lake Erie in Lorain, Ohio, with a one-of-a-kind rooftop event space, a 4,585 SF Lakeview event room, and two ground-floor restaurant spaces previously leased to local operators that are available to re-lease. The property has been owned and managed by a non-hotelier with occupancy running significantly below the market.
Revenue is up 40% year-to-date through April 2026 with some minor corrections with revenue management. For an owner-operator, there is significant upside potential with multiple revenue channels: leasing the two restaurants back to operators, and potential brand affiliation and stronger sales and oversight. The property sits within a Federal Opportunity Zone, with a 50-acre lakefront redevelopment, new amphitheater, and additional entertainment venues opening adjacent to the hotel in 2026.
Investment highlights
- Absentee, non-hotelier ownership
- Revenue up 40% YTD
- Occupancy at just 40% of comp set — indicating major upside
- Steps from Lake Erie, with a one-of-a-kind rooftop event space and a 4,585 SF Lakeview event room
- Two restaurant spaces previously leased to local operators are available to re-lease
- Multiple branding opportunities (soft-brand affiliation or independent boutique positioning)
- Federal Opportunity Zone designation
- Centennial year in 2026, with major lakefront redevelopment, a new amphitheater, and a go-kart facility opening nearby
- Asking Price: $4,100,000
- Location Lake: Erie
- Property Description: Other
- Number of Rooms: 56
- Major Source of Business: Lake Erie Leisure, Group Events, Weddings, Corporate Demand, Downtown Visitors, Transient Travelers, Regional Drive-In Leisure Traffic
- Site Size: +/- 1.14
- Year Built: 1926
- Last Year Renovated: 2020
- Common Area Amenities: On-site restaurant, bar/grill, fine dining restaurant, rooftop event space, lakeview event room, boardroom, meeting spaces, lakefront views, commercial/retail space
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
