Hotel Feasibility Study in the Cleveland, OH Metro Area

Hotel in Cleveland against the national picture

Cleveland, OH stands 22 of 807 among metro and micro areas, with 67 SBA approvals in FY2017 through FY2026 worth $167.4 million. Measured against the nation, Cleveland's hotel share is 0.47x the national share: Cleveland tilts away from the class. Ranked inside Cleveland, the class sits 8 of 39. All of Cleveland's loans sit in OH.

Cleveland loans center on $2.4 million, the median, and the middle half ranges $1.1 million to $3.6 million. The local median is 1.09x the median nationally for the class, so Cleveland borrowers draw bigger loans. Cleveland programs split 54 to 7(a) and 13 to 504. In Cleveland, franchise flags sit on 82.1% of the loans, which is context only for any one borrower.

Hotel lenders in Cleveland

On the 7(a) side in Cleveland, the leading holders recorded are 6 loans worth $18.3 million at Shoreham Bank; 6 loans worth $17.8 million at GBank; and 6 loans worth $13.3 million at United Midwest Savings Bank National Association. On the 504 side of Cleveland, 8 loans worth $24.2 million at Growth Capital Corp. Each Cleveland row is an SBA record. These Cleveland loans sit with the lenders named. Cleveland rows speak to files, not policy. Nothing in Cleveland shows what a lender will ask. Across Cleveland counties, Cuyahoga County, OH holds 34 loans, then Medina County, OH at 11, Lake County, OH at 8, Lorain County, OH at 8 and Ashtabula County, OH at 6.

Cleveland's published years show 10 loans and $18.4 million in FY2017, 6 loans and $17.8 million in FY2018, 8 loans and $13.8 million in FY2019, 6 loans and $15.9 million in FY2020, 6 loans and $12.4 million in FY2023, 7 loans and $17.3 million in FY2024, 6 loans and $24.3 million in FY2025 and 11 loans and $35.9 million in FY2026. Two years in that span, FY2021 and FY2022, carry no count: Loan Analytics withholds them because few loans back them, so that gap is unpublished, nothing more. FY2017 to FY2024 approvals in Cleveland were cancelled once approved, a floor of 14.0%; treat it as a floor. Loan Analytics withholds the Cleveland charge-off floor, since its cohort is thin. Every Cleveland figure follows federal lines from July 2023, so each Cleveland loan is placed by county, and Cleveland excludes any county it cannot match. In Cleveland, one code covers hotels and motels, meaning limited-service or full service projects cannot be told apart here.

Cleveland: testing a hotel project

Cleveland: this hotel record sets context; a study supplies proof. Cleveland analysis should establish competing properties and their brands. In Cleveland, we start by examining franchise fees and required renovations. In Cleveland, a study has to test the weakest quarter of the year. For Cleveland, the study should address comparable properties instead of averages. Cleveland lenders need the study to show reserves for furniture and replacement. For Cleveland: demand, cost, coverage, value. No Cleveland approval is promised here.