Key Features

• Highly Desirable Location
• The interior-corridor, 14-story property is located within the heart of the Inner Harbor, downtown Baltimore’s premier tourism and entertainment district that attracts approximately 14 million visitors annually.
• The property is the only hotel connected to and located on the same block as the convention center.
• Additionally, the property within close proximity to a variety of demand generators that include, but are not limited to:
• Camden Yards
• The Baltimore Convention Center
• M&T Bank Stadium
• The Maryland Science Center
• Horseshoe Casino Baltimore
• The National Aquarium
• Multiple Streams of Revenue
• Food & Beverage
• Morton’s Steakhouse is third-party leased and operated for $247,500 with their current lease recently getting extended as of September 2022 for an additional 5 years.
• Oriole’s Grille is the hotel’s primary three-meal restaurant offering a casual sports-themed setting.
• Parking Operations
• The property has a highly profitable, 525-space parking operation that includes an adjacent 8-level parking garage which serves as one of the two primary parking facilities for the adjacent Baltimore Convention Center.
• Event Space & Meeting Facilities
• The property boasts approximately 22,854 square feet of event space divided across 17 event rooms and 16 breakout rooms, with the largest room being approximately 1,600 square feet.
• The conference rooms, banquet halls, and event space can be utilized for a wide variety of special, professional, or large events.
• Exceptional Branding & Management Opportunity
• The property operates under the Sheraton flag, a member of the Marriott family of brands. As a result, the hotel benefits from its affiliation with one of the industry’s leading hospitality companies.
• Sheraton by Marriott is a highly desirable flag by both investors and consumers alike.
• The property offers a relatively efficient 338 key count, enabling management to effectively yield and manage the hotel in addition to having more efficient operations and expense control.
• Capital Improvements & Upside Potential
• Well-maintained property that has benefited from significant recent capital improvements, totaling over $4.5 Million ($13,300 per key) over the last five years.
• The parking facility recently completed a $2.0 million infrastructure upgrade and concrete restoration project.
• Ownership is currently in the process of installing two advertising billboards - one digital billboard and one static e-sign.
• Includes an adjacent land parcel with development potential totaling over 350,000 square feet of gross buildable area.
• Property features numerous repositioning opportunities with regards to the food & beverage outlets, the additional land parcel, and renovation upsides to modernize the hotel in accordance with current brand standards.