Image courtesy of Portman

By MATT SMITHMIER

CINCINNATI, Ohio – Real estate development company Portman just closed on $540 million in financing for a new Cincinnati Downtown Marriott Hotel, which should break ground July 21.

The contract lists Skanska has the construction manager; it is being built through a public-private partnership with the City of Cincinnati, the state of Ohio and others.

Featuring 700 rooms and a total of 660,500 square feet, the 21-story hotel will be located directly across from the First Financial Center and will also include a rooftop terrace, ballrooms, flexible meeting spaces, conference rooms, ground floor retail and a skybridge connecting the hotel to the surrounding parking areas and the convention center.

The new hotel is another piece of the city’s larger $828 million revitalization plan for the convention district, which also includes enhancements to the public spaces, renovations to the First Financial Center and improvements to Elm Street Plaza.

Skanska estimates the hotel will be completed by the end of 2028.