A central Ohio development company plans to build an Embassy Suites hotel near Port Columbus, adding to the steady inventory of rooms in the busy airport market. Local development company Core Properties has secured a 6-acre piece of ground amid a slew of hotels off Airport Drive for the 185-room property. Core Properties owner Jeff Coopersmith said Hilton Corp., which owns the Embassy Suites brand, has approved the site.
Pending a change in zoning, Core Properties hopes to break ground on the hotel in late summer and have it open near the end of 2008.
So what is special about hotels as an investment? Because it is an investment model in real estate that can make money when it is only 60 percent occupied!