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NexGen acquires Cleveland Four Points

The recently renovated 147-room hotel is the 11th in the company’s portfolio

NexGen acquires Cleveland Four Points

THE RECENTLY RENOVATED Four Points by Sheraton Cleveland Airport in Cleveland, Ohio, is the latest acquisition by NexGen Hotels. It is the 11th property in the portfolio for NexGen, led by Chris Patel as principal.

The 147-room Four Points is two miles from Cleveland Hopkins International Airport. It also is near Quicken Loans Arena, the Rock & Roll Hall of Fame and the Cleveland Clinic Medical Center. Amenities at the 6-story hotel include 7,500 square feet of meeting space and a heated indoor swimming pool.


It also hosts the brand’s Best Brews program at its onsite restaurant, The Hub Bar & Grill.

“As the company’s newest property, the hotel plays a significant part of our continued growth strategy,” Patel said.

NexGen, based in Itasca, Illinois, also recently acquired the SpringHill Suites by Marriott Chicago Bolingbrook in Chicago. The 82-suite hotel is in Bolingbrook a suburb of Chicago, near Chicagoland Speedway, Harrah’s Casino, The Promenade at Bolingbrook, Pelican Harbor Indoor/Outdoor Aquatic Park, downtown Chicago and other shopping, dining and entertainment businesses.

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U.S. Hotel Construction Drops to 40-Quarter Low: CoStar

CoStar: U.S. hotel construction hits 40-quarter low

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  • U.S. hotel rooms under construction fell year over year for the ninth month, CoStar reported.
  • About 137,956 rooms were under construction in September, down 12.3 percent from 2024.
  • In September, 12,746 midscale and 4,559 economy rooms were under construction.

U.S. HOTEL ROOMS under construction fell year over year for the ninth consecutive month in September, reaching the lowest level in 40 quarters, according to CoStar. Still, more rooms are under construction now than after the Great Recession.

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