One of Covington’s marquee riverfront hotels is for sale, according to a recently posted real estate listing.
American Hotel Income Properties, a real estate investment trust based in Vancouver, British Columbia, has listed the Embassy Suites hotel at 10 E. Rivercenter Blvd. for sale on Loopnet. This hotel is part of a larger, three-building portfolio that also includes two other Embassy Suites locations in Dublin, Ohio, and Independence, Ohio.
The hotel is listed as part of a package deal with the two other Ohio hotels, though no price is provided.
The hotel is situated in a prime location, less than a mile from the Covington Central Riverfront project and the Brent Spence Bridge Corridor project, both of which are multibillion-dollar developments that can revitalize the city’s riverfront. Additionally, the hotel is situated adjacent to the Northern Kentucky Convention Center, which is also slated for expansion.
“The hotel is offered significantly below replacement cost in a growing urban market, benefiting from durable concrete-and-steel construction, structured parking, and direct access to diverse corporate, leisure, and group demand,” read the listing.
The Embassy Suites was constructed in 1990, with extensive renovations completed in 2018. The hotel is part of the Covington RiverCenter complex, which comprises the convention center, Covington RiverCenter towers, The Ascent and Domaine de la Rive residential towers, and the Cincinnati Marriott at the RiverCenter. Covington-based Corporex was the original firm behind the hotel’s development.
At 186,600 square feet, the 227-room hotel is a magnet for out-of-town guests who are traveling into Greater Cincinnati for work, sporting events and conventions.
