TAMPA, Fla., Dec. 3, 2021 /PRNewswire/ — DSH Hotel Advisors, a leading hotel brokerage and advisory firm headquartered in Tampa, Florida – specialized solely in hotels – announced that Dennis Hopper, CCIM, Managing Principal and Randy Taylor, Vice President Investments of the firm closed on the Quality Inn by Choice Hotels in Palm Bay, FL on November 22, 2021 for $6,500,000. Mr. Hopper and Mr. Taylor represented the buyer, S 4 Global Investments, and the seller, Palm Bay Hotel Venture, LLC. The Quality Inn, Palm Bay is a 67-room hotel located directly off Palm Bay Drive NW, approximately 1 mile from I-95 and 9.8 miles from Melbourne Beach – positioned in a high growth area within Palm Bay/Melbourne. DSH Hotel Advisors was responsible for brokering the sale of the property – adding another Florida hotel transaction to their extensive track record.
"Right now, we are experiencing more demand for hotels in Florida than we’ve seen in a long time. As a result, our extensive network of hotel investors has increased significantly over the last 9 months. Covid disrupted the market until around March of this year – and since March, the market has really heated up. Financing is readily available and offered with attractive terms, buyers are flush with cash, and both buyers and sellers are capitalizing on the favorable market conditions. It was a pleasure working with the seller, buyer, Ten-X, and all involved in this transaction. It was a great opportunity for the buyer while also a very healthy sale price for the seller," says Hopper.
"We experienced a high level of interest in this property from buyers all over the US and internationally. Due to our marketing efforts combined with Ten-X, we generated more than 400 signed Confidentiality Agreements within 7 weeks, which helped create a competitive bidding environment between buyers and allowed us to maximize the sale price for the seller. Florida is experiencing significant growth which made this a unique acquisition opportunity for the buyers (S 4 Global Investments) – we think that they are going to be very successful," says Taylor.
About DSH Hotel Advisors www.DSHHotelAdvisors.com:
DSH Hotel Advisors is a national hotel brokerage and advisory firm based out of Tampa, Florida. The firm exclusively represents investors seeking an acquisition or disposition of hotel assets throughout the United States, with a regional focus in the southeast. The company has deeply rooted relationships with key personnel throughout the hospitality industry, including independent and institutional investors, real estate and franchise attorneys, management companies, franchisors, contractors, and lenders, allowing them to deliver a full spectrum of service to their clients and ensure the best team is on the field for every assignment. In addition to the vast network of hotel buyers within DSH Hotel Advisors’ network, the company also promotes collaboration with other brokerage firms in an effort to maximize the sales price on every exclusively listed assignment.
SOURCE DSH Hotel Advisors