01 Jun2022

HUNTER's Miami Office Facilitates Sale of Two Florida Hotels

The weather isn't the only thing heating up in Florida. Led by Robert Taylor, Executive Vice President of Hunter Hotel Advisors ("HUNTER"), and Sophia Pittaluga, Vice President of HUNTER, HUNTER's Miami office closed the sale of the Embassy Suites by Hilton Sarasota and the Fairfield Inn & Suites by Marriott Homestead Florida City. JEBCO Ventures sold the Embassy Suites to Kolter Hospitality for an undisclosed price. Baywood Hotels also sold the Fairfield Inn & Suites to Highgate for an undisclosed price.  

With soaring ocean views and an open-air atrium, the Embassy Suites by Hilton Sarasota is unlike any Embassy Suites property today. New restaurants and bars surround the 180-room hotel in Sarasota's vibrant and growing downtown corridor. In addition to the outdoor pool on the 8th floor, guests looking to go for a swim have easy access to two of Florida's most popular beaches – Lido Key Beach and Siesta Key Beach. With 27 million tourists visiting Sarasota each year, forecasts show the property's strong performance continuing. 

The brand-new Fairfield Inn & Suites by Marriott Homestead Florida City is the gateway to the Florida Keys. The 132-room property is located directly between bustling Miami and the relaxed Keys. The hotel is just one mile away from the Homestead Historic Downtown District, where art galleries, antique shops, and specialty restaurants thrive. The Homestead Air Reserve Base is also nearby and serves as a significant demand generator for the hotel while also fueling the economic growth of South Florida. 

"These transactions are a great example of our team's ability to assist hotel developers in taking advantage of the attractive prices paid for quality assets on both coasts of South Florida. Investors remain bullish on South Florida's future growth potential as sustained leisure demand will continue to drive rates and pricing," said Robert Taylor, Executive Vice President of HUNTER.

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