Property Overview
Ariel on Broadway 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.
• 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
Please do not contact the property directly. For more information and to schedule a tour, contact Ted Holmes after signing a CA.
In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946
Scott Reid, OH - BRKP.2020001224
Broker of Record
ParaSell, Inc.
Ted Holmes, OK -
#155078
Listing Broker
HotelBrokerOne
Bruce Holmes, OK -
#071875
Listing Broker
HotelBrokerOne
Property Highlights
| 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 |