In 2017, Worldway Immigration Group has been receiving good news. Recently, the latest progress report from the project team revealed that the EB-5 project for the Westin Hotel in Cleveland, represented by Worldway Immigration, is performing strongly, and all EB-5 investors' immigration applications are progressing smoothly.
Hotel Operations Update
Thanks to the strong economic growth of the city, the Westin Hotel in Cleveland will continue to exceed expectations with daily room rates and occupancy rates above the average of other hotels in the downtown area. This strong operational performance has also resulted in positive financial results, with net revenues significantly exceeding the monthly EB-5 loan interest. All payments are made on time and in cash.
According to U.S. News & World Report, which evaluated over 4,500 hotels across the United States, the Caribbean, Mexico, Canada, and Europe, the Westin Hotel has been recognized as the 5th best hotel in "Cleveland's Best Hotels" and ranked 12th in "Ohio's Best Hotels."
So far, all I-526 applications from EB-5 investors have been approved, and some investors have submitted I-829 applications. According to the updated employment report from the project economist, the project has generated employment far exceeding the requirements set by the USCIS for all EB-5 investors.
Cleveland's Urban Development Strongly Revitalized
Cleveland, as the second largest city in Ohio, was once ranked as the 5th richest city in the United States in the mid-20th century due to the development of the automotive and other heavy industries.
In 2016, after winning the NBA championship in the spring, the city hosted the Republican National Convention in July, followed by the Major League Baseball World Series in October. This made Cleveland a focal point for attention across the nation throughout the year. After years of hard work, Cleveland has finally seized the opportunity to redefine itself in front of the world.
As recognized by Cleveland's political and economic leaders, "Cleveland does not have a product problem, but rather an impression problem." In addition to the NBA and Major League Baseball, the Cleveland Clinic is ranked as the second-best hospital in the United States, and the Cleveland Museum of Art and the Cleveland Orchestra are among the top art organizations in the country. The Playhouse Square in the eastern part of the city is the largest theater in the United States outside of New York's Lincoln Center. Cleveland's culinary culture has also gained fame due to two local celebrity chefs, Michael Symon and Jonathon Sawyer.
Recently, Cleveland was named one of the "Most Livable Cities in America" by Time Out magazine and has become one of the hottest cities in the United States. Especially after Cleveland successfully hosted the Republican National Convention last summer and nominated Donald Trump as the new president, along with the Cleveland Cavaliers winning the championship, there has been a significant increase in tourism and investment enthusiasm. Political leaders have stated that if Cleveland continues to move forward, it may be the host city for the 2028 Summer Olympics.
Worldway Immigration Group will continue to provide updates on the project, so please stay tuned. In light of the EB-5 price increase, proposed shutdowns, and the upcoming expiration of the bill on April 28, as well as the foreign exchange controls in China on July 1, Worldway Immigration kindly reminds investors interested in immigrating to the United States to act quickly, take advantage of projects that have already received sample approval, and complete their investments as soon as possible!
Worldway Immigration, while accurately assessing the changing trends in U.S. investment immigration, has carefully selected three high-quality projects that have been approved and enjoy exemption privileges, helping investors seize the last chance to immigrate to the United States before the price increase. For more details on immigration to the United States or other projects, please call: 400-138-2929.