Wednesday, June 26, 2024
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Hilco Real Estate Sales has set July 9, 2024, as the qualifying bid deadline for the Chapter 11 bankruptcy sale of the 309-room Ontario Airport Hotel & Conference Center in Ontario, CA.
This premier, full-service hotel spans 8.48 acres and is strategically located just minutes from Ontario International Airport and the Ontario Convention Center, making it an attractive investment opportunity for innovative hospitality operators and developers. The hotel, totaling 232,430± SF, offers extensive amenities including spacious meeting facilities, a restaurant, bar, coffee shop, outdoor pool, and fitness room. Currently operating independently, this property presents a significant opportunity for new owners to collaborate with leading national and international hotel brands. Acquiring this performing asset represents substantial savings compared to building anew.
Featuring over 22,000± SF of versatile meeting and banquet space, the hotel’s main tower includes 16 separate breakout rooms and a 5,300± SF area capable of hosting receptions for up to 750 guests, along with an Executive Boardroom. Partial renovations were recently completed in 2023.
Conveniently situated off Interstate 10, the hotel enjoys excellent access to major freeways, enhancing its connectivity and appeal. Located in the heart of the Inland Empire, it is just moments away from key attractions such as the California Speedway, Citizen’s Business Bank Arena, Victoria Gardens, and Ontario Mills shopping malls.
Ontario, renowned as the logistics capital of the U.S., recently welcomed Amazon’s completion of the largest logistics building ever developed in the country—a 4.1 million SF facility. This highlights the area’s strategic significance and growth potential. The hotel’s proximity to Ontario International Airport, which saw a 12% increase in passenger volume to 6.4 million in 2023, surpassing pre-pandemic levels for the second consecutive year, further enhances its appeal and investment value.
Keith Worsham, head of the National Hotel Team at Hilco Real Estate Sales, stated, “This is a unique opportunity to acquire a well-performing hotel property in a key location. With its extensive amenities and potential for brand affiliation, the Ontario Airport Hotel & Conference Center represents a significant investment prospect in the vibrant Inland Empire region.”
Jeff Azuse, executive vice president at Hilco Real Estate Sales, added, “Whether maintaining its independent status or rebranding with a leading hotel chain, new ownership can significantly enhance the value and performance of this asset.”
