13 Jun2022

Hunter Hotel Advisors’ Miami Office Announces Sale of Another Florida Hotel

Hunter Hotel Advisors (“HUNTER”) has arranged the sale of the Residence Inn by Marriott Melbourne in Melbourne, Florida. Robert Finvarb Companies together with Finvarb Group, sold the 133-room hotel to a private investment fund for an undisclosed price. Robert Taylor and Sophia Pittaluga of HUNTER’s Miami office advised the seller.

This deal represents the seventh property Taylor and Pittaluga have sold in Florida in 2022. In total, HUNTER’s Miami office has closed $282.9 million in hotel transactions year-to-date. The work of the Miami office has contributed greatly to the more than $1.4 billion HUNTER has sold in hotel transactions in 2022.  

This extended-stay hotel benefits from its proximity to the Melbourne Orlando International Airport and the Florida Business Centre, which houses numerous tech, aerospace, and engineering companies. Cape Canaveral Air Force Station is also nearby, as is the Kennedy Space Center, which hosts the three largest private space companies in operation today, SpaceX, Blue Origin, and Virgin Galactic. The strength of the Marriott Residence Inn brand allows this hotel to capitalize on Melbourne’s numerous demand generators.

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