The Radisson Hotel Cleveland-Gateway will be rebranded as Hotel Indigo, following a multimillion-dollar renovation. The 143 key hotel features a business center, fitness center, approximately 3,500 square feet of meeting space and the Gateway Bar and Grill.
The property is the closest accommodation to both Quicken Loans Arena and Progressive Field. The hotel will initially operate under the Intercontinental Hotel Group system and under the name Hotel Cleveland Gateway until the renovations are complete.
The project will include all guest rooms, meeting space and public areas. Upon completion, the hotel will be rebranded and repositioned as a Hotel Indigo.
“We continue to believe there exists today compelling select development, redevelopment and repositioning opportunities in US markets” said Lawrence A. Kestin, founder of Glenmont Capital Management which owns the property. “The combination of inherent investment factors, including a favorable per key purchase price, the irreplaceable A+ location in the center of Downtown Cleveland and our rebranding and repositioning strategy, presented a compelling investment opportunity rarely found in today’s markets.”
The hotel will be managed by Pyramid Hotel Group with which Glenmont has enjoyed a long-term relationship.