Dear Friends,
As the summer months fade, school returns, and business activity ramps up, hotels are seeing increased occupancy, ADR & RevPAR rates. The market is HOT...especially here in South Florida!
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 Multifamily Sales Comps | AUG 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 properties for sale
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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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โ If this was forwarded by a friend, you can sign up to get on our email list here!
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Broward County Multifamily Sales Comps Report | AUG 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 Multifamily 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 Multifamily Sales Comps Report below. |
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STR: U.S. Hotel Occupancy Update
Week | 29 August - 4 September 2021
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U.S. weekly hotel occupancy is currently sitting at 61.3%.
โ Lifted by Labor Day weekend, Hurricane Ida evacuations, and the return of college football, increased slightly from the previous week.
๐น The average daily rate (ADR) was recorded at $132.94
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A +9.4% increase from 2019
๐น The revenue per available room (RevPAR) was $81.54
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A +10.1% increase from 2019
Among the Top 25 Markets:
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๐น Miami, FL reported the largest ADR increases over 2019
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โ +42.4% to $179.36 ๏ปฟ
๐น Houston, TX documented the highest occupancy and RevPAR increases over 2019
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โ +50.5% to 76.6%
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โ +77.1% to $77.82
๐น Oahu Island experiences the steepest decline in occupancy over 2019
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Florida Hotel Properties are Hot!
I am pleased to announce that we've successfully SOLD Devine By The Sea in Lauderdale-by-the-Sea, 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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Global Hotel Investment Volume Hits $30B in H1
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The best investment opportunities over the remainder of the year will be in the full-service hotel sector.
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(via GlobeSt) Global hotel investment hit $30 billion in the first half of the year as the sector continues its post-COVID recovery, with some experts suggesting the pace will continue to quicken in the second half of the year.
JLLโs Global Hotel Investor Sentiment Survey showed sales volume gains of 66% year-over-year, and just 4% less activity than in the first half of 2019.
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More than half of investors surveyed by the firm say they will employ a more aggressive investment acquisition strategy this year, and 29% showed interest in over $200 million worth of assets.
Europe, North America and Southeast Asia are investor favorites thus far this year...Continue Reading...
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South Florida Commercial Real Estate is 'Off the Charts'
All eyes are on the South Florida's real estate market as companies large and small from across the country relocate or expand to enjoy its sunny climesโฆ
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(via GlobeSt) All eyes are on the South Floridaโs real estate market as companies large and small from across the country relocate or expand to enjoy its sunny climes and tax benefits, accelerated by the pandemic.
Big businesses are breathing life into South Floridaโs office market, with major companies creating a ripple effect and influencing others to come to the capital of capital. Despite the rise in the Delta and Mu variant cases, top-dollar deals arenโt diminishing and the retail and hospitality sectors are booming. Continue Reading...
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CRE Investors Plan More Deal Making in Next 12 Months
Some 39% expect the 1031 tax deferred exchanges will be gone by 2022.
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(via GlobeSt) CRE investment activity is likely to remain strong for the remainder of the year, according to a semi-annual survey by Marcus & Millichap.
While the poll, done in the first week of August, captured some hesitancy in respondentsโ mood due to the Delta variant, inflation and labor shortages, Senior Vice President Director Research Services John Chang points out the overall sentiment of 165 is a big swing upwards from 140 at height of the pandemic and an even larger boom compared to 91 when the financial crisis of more than a decade ago was at its peak. 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: $2,595,000
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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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