Ceres Enterprises, a leading developer and operator of upscale hotels in the Midwest, has expanded its portfolio by converting three of its existing properties to the Wyndham brand. This successful transition was achieved with the guidance and expertise of Brown Gibbons Lang & Company (BGL), a prominent real estate investment banking firm.
The newly rebranded hotels, totaling 397 keys, include the Wyndham Avon in Ohio, the Wyndham Noblesville in Indiana, and the Wyndham Westfield, also in Indiana. These strategically located properties benefit from strong market demand and historical performance, offering a prime location near major interchanges.
BGL’s Real Estate Advisors team played a pivotal role in guiding the owners through this complex process, including sourcing new capital and restructuring the properties’ balance sheets. This restructuring was crucial for streamlining future operations and positioning the hotels for continued growth.
“Introducing these new hotels in Ohio and Indiana delivers on our promise of delivering exceptional experiences for the everyday traveler,” said Amit Sripathi, Chief Development Officer, Wyndham Hotels & Resorts. “By joining forces with the world’s largest hotel franchisor, Ceres Enterprises unlocks The Wyndham Advantage—global marketing, innovative technology, and access to our award-winning Wyndham Rewards program—which will support the success of these hotels as they begin welcoming guests for unforgettable stays.”
David Crisafi, President of Ceres Enterprises, highlighted the positive impact of this strategic shift, stating, “Switching our hotels to the Wyndham flag has led to a significant boost in both our top and bottom lines. Without changing the asset location or its physical condition, the lever of accretive revenue has been remarkable.”
Beyond these three newly branded hotels, Ceres Enterprises also owns The Orbit Hotel, a 54-key property under the Trademark Collection by Wyndham, located at Cleveland Hopkins International Airport. This adds to their growing portfolio of Wyndham-branded hotels, showcasing their commitment to the Wyndham brand and its potential for success.
Ceres Enterprises is known for its diverse portfolio of properties under renowned brands such as Marriott, Hilton, and now Wyndham. The Orlean Company, an Ohio-based real estate developer with expertise in commercial real estate development, partnered with Ceres Enterprises in developing these hotels. Their combined expertise has proven instrumental in delivering exceptional hospitality experiences across the Midwest.
BGL’s Real Estate Advisors team provides comprehensive real estate investment banking services to middle-market clients. Their focus on client-driven solutions is evident in their expertise across various areas, including real estate advisory, debt and equity placements, financial restructuring, recapitalizations, sale-leasebacks, structured finance, and asset acquisitions and dispositions across all asset types. Through strategic alliances and joint ventures with capital providers, BGL ensures access to capital for all their clients’ needs, fostering continued growth and success in the real estate sector.
