Dear Friends,
As we enjoy the summer months, the hotel industry is benefiting from increased domestic travel. Hotels across the country, and specifically here in Florida, are seeing increased bookings, occupancy, and local activity picking up.
We have more buyers than ever actively seeking Florida hotel assets -- if you are considering selling your hotel property, I invite you to contact me for a complimentary consultation.
To help you navigate this exciting market, you'll find in this issue:
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Downloadable Hotel Sales Comps | JAN - JUL 2021 for the Broward County area.
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The newest hotel occupancy update & a look at the top-performing markets
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A curated selection of the latest hotel market news & trends to help inform your business decisions and strategy
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A selection of my most recent hotel properties for sale in Florida
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Active Immediate Buyer Needs
In this edition, you will also find a link to the Greater Ft. Lauderdale's Beachside Directory. This guide is a resource for local residents and a way for local businesses to promote their services and establishments. I invite you to list your business, hotel, or restaurant today!
In the meantime, if you know anyone who is considering selling or acquiring a hotel or multifamily property, please send them my way. We have buyers ready and waiting.
Best Regards,
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FOLLOW ME ON LINKEDIN OR FACEBOOK. |
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Premier Hotel Realty
954-543-5411
Director, Greater Pompano Beach Chamber of Commerce
Former Director, Lauderdale-by-the-Sea Chamber of Commerce
Podcast Host: Hotel Happenings with Rick Tobin
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Broward County Hotel Sales Comps Report | JAN - JUL 2021
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Wondering how much your property could sell for?
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In this report, you'll find a representative sample of Hotel property sales in the Broward County area.๐
Check out select properties to get an idea of what properties like yours are selling for.
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Download your copy of my latest Hotel Sales Comps Report below. |
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STR: U.S. Occupancy Reaches Pandemic Highs in All of the Key Performance Metrics
Week | 25th - 31st July, 2021
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U.S. weekly hotel occupancy came in at 70.1%, dipping slightly from the previous week.
โ However, room rates did increase over the week.
๐น The average daily rate (ADR) was recorded at $142.76
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A +6.8% increase from 2019
๐น The revenue per available room (RevPAR) was $100.07
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A +0.1% increase from 2019
Among the Top 25 Markets:
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๐น Miami reported the largest ADR & RevPAR increases over 2019
โ Miami ADR $215.34 -- +43.3%
โ Miami RevPAR $156.01 -- +38.3%
๐น Norfolk/Virginia Beach saw the highest occupancy increase over 2019
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Florida Hotel Properties are Hot!
I am pleased to announce that we've successfully SOLD the Palmer Inn & Tennis Club in Rockledge, Florida.
With multiple offers in - I still have many buyers looking for Florida hotels!
If you are considering selling, please don't hesitate to contact me for a confidential consultation.
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Hotels Miami Hotel Rebound: "We're Blowing 2019 Out Of The Water" South Florid
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(via BizNow) The recovery of South Florida's hotel industry is stronger than anyone could have imagined in March 2020 when the coronavirus pandemic was bearing down on the world.
"We're blowing 2019 out of the water," said Miami hotelier Robert Finvarb, whose portfolio includes more than a dozen hotels.
Typically, demand dries up around Easter as Miami gets hot, rainy, and muggy. But this year, the season never ended, Finvarb said.
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The performance seems stunning in light of the fact that business travel hasn't returned to normal levels, foreign travelers haven't yet returned en masse, and Miami's cruise ships haven't been sailing.
Finvarb chalked up the booming business to pent-up demand for leisure destinations after a year of coronavirus-related lockdowns, as well as...Continue Reading...
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Where Hotel Sales Are in Q2 2021
Demand drivers are anticipated to change during the second half of this year as post-Labor Day corporate travel should increase, and with schools reopening leisure travel will slow down.
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(via GlobeSt) The U.S. Lodging Industry has shifted dramatically over the past twelve months.
Looking back to this time last year, the world was fiercely battling the Coronavirus pandemic, virtually weaponless without anything other than masks and social distancing measures.
We are now roughly six months into the global vaccination campaign, with cases and death rates much lower in most parts of the world. Continue Reading...
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Summer Travel Boom Helps Drive Record Household Formation
Household formation is forecast to reach 2.1 million in 2022โthe highest level on record.
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(via GlobeSt) The post-pandemic travel boom will help all sorts of properties including retail, industrial, and multifamily in tourist destinations, said John Chang, senior vice president, director of research services Marcus & Millichap in a recent video.
Leisure travel is quickly picking up in vacation hot spots like Orlando, Las Vegas, Nashville, Miami but also in metros that are less dependent on tourism like Los Angeles, Washington, DC, and Chicago, he noted. Continue Reading...
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FEATURED PROPERTY
Shore Haven Resort Inn...
Steps to Golden Sand Beaches!
4433 N Ocean Dr | Lauderdale-by-the-Sea, FL 33308
PRICE: $21,000,000
The Shore Haven Resort Inn is a 68-unit resort located on 1.1 acres in beautiful Lauderdale-By-The-Sea, Florida.โ Only 120 yards from the golden sand beaches, the Shore Haven Resort is built on 3 separate side-by-side properties, selling together as one portfolio.โ
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- โ68 Units - offering hotel rooms, efficiency apartments, and one-bedroom apartments
- โ~1.1 Acres & only 120 yards from the golden sand beach
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- โThe resort is located on 3 separate side-by-side properties and is selling as one portfolio
- โLocated in beautiful Lauderdale-By-The-Sea
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Interested in learning more? Contact Rick for more information.
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FEATURED PROPERTY
225-Acre Undeveloped Beachfront Land in Puerto Rico...
Aguada/Aguadilla, Puerto Rico, 00603
PRICE: $2,500,000
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This ~225-acre undeveloped oceanfront land is located at the Aguada/Aguadilla border, between Aguadilla's International Airport and the world-famous surfing beaches of Rincon.
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- ~225 Acres undeveloped beachfront land
- Zoning: CR (Conservation) & PR (Preservation)
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- Currently being used to raise high-quality free-range cattle
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Puerto Ricoโs Act 20 / 22 provides some outstanding Federal Income Tax Benefits!
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Interested in learning more? Contact Rick for more information.
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Great Escape ...
Steps to Pristine Beaches
4620 N Ocean Dr, Lauderdale-By-The-Sea, FL 33308
PRICE: $2,500,000
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The Great Escape Inn is located in the peaceful town of Lauderdale-by-the-Sea, between the Atlantic Ocean and the Intracoastal Waterway.โ This 12-unit hotel is located steps from pristine beaches & all that LBTS has to offer!
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- โSteps to the Atlantic ocean & pristine beaches
- โ12-Units | +5,500 SF
- Close to all that LBTS has to offer!
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- โHeated private pool
- โClose to the fishing pier, and a surplus of outdoor & water sports/activities
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Interested in learning more? Contact Rick for more information.
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Hotel Seacrest...
Lush Vegetation & Steps To The Ocean
4562 Bougainvilla Dr, Lauderdale-by-the-Sea, FL 33308
PRICE: $2,499,000
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For Sale Again!
Hotel Seacrest offers a secluded and private tropical oasis, with access to all that Lauderdale-by-the-Sea has to offer.โ Shops, restaurants, and entertainment are all within a short walk from the hotel.โ
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- Newly remodeled 8-room hotel
- Mature and lush vegetation throughout the property
- Clean and endless beaches stretch for miles!
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- Beautiful private pool
- Amazing location, steps to the ocean, shopping, restaurants & more!
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Interested in learning more? Contact Rick for more information.
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We have a high number of buyers who are urgently seeking flagged hotel properties in South Florida & beach areas...
Below are just a few of the many Buyer Wants & Needs that are pouring in!
If you have a hotel property to sell, please get in touch ASAP.
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Join for Facebook Live Interview Sessions
Get exclusive market data, see hotel and restaurant property tours, join our marketing sessions, and more!
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We have one of the largest Florida local community networks on Facebook! |
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Rick is a member and director of the Greater Pompano Beach Chambers of Commerce, and a member and former director of the Lauderdale-by-the-Sea Chamber of Commerce. |
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Developed by CRE HUB at iMedia International for Premier Hotel Realty.
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