Business & Finance

HREC Arranges Sale of Hampton Inn Florida Portfolio

St. Augustine & Palm Coast, Florida

DENVER, CO./ TAMPA, FL. September 20, 2017 – HREC Investment Advisors is pleased to announce it has arranged the sale of the 67-guestroom Hampton Inn St. Augustine I-95 located in St. Augustine, Florida and the 94-guestroom Hampton Inn & Suites Palm Coast located in Palm Coast, Florida. The properties were acquired by a private investor.

Jaimin Patel, Senior Vice President in HREC Investment Advisors’ Tampa office, exclusively represented Caiman Management during the transaction. Caiman Management is headquartered in Saint Augustine, Florida.

“The Hampton Inn St. Augustine and the Hampton Inn & Suites Palm Coast are located in dynamic tourist markets along Florida’s Atlantic coast. Both are strategically located off I-95, connecting them to numerous feeder markets across the east coast. The buyer plans on investing $5 million into improvements on both properties in order to retain their market lead for years to come,” stated Patel.

St. Augustine is located just 15 miles south of Jacksonville and is known as the “Oldest City in America” with an impressive list of historical sites and visitor attractions. The Property benefits from an outstanding location that allows for high levels of visibility for passer-by vehicles as well as easy access to the area’s primary demand generators. The Hotel is minutes from the Old Town Historic District, pristine beaches, and numerous local treasures such as the St. Augustine Premium Outlets and the family entertainment center known as Adventure Landing. St. Augustine is also home to the World Golf Village, a golf vacation destination featuring the World Golf Hall of Fame, an IMAX theater, several championship golf courses, accommodations, and convention facilities.

Palm Coast is situated approximately 20 miles north of Daytona Beach, known as the “World’s most Famous Beach” and is the motorsports capital of the world with the Daytona International Speedway. The Hotel is located in a commercial development named Flagler Plaza, adjacent to a retail center anchored by a Winn-Dixie. Several popular restaurants and retail shops are also in the immediate area. Furthermore, the Hotel is minutes from the beautiful Flagler Beach as well as several other popular attractions including the Graham Swamp Reserve, multiple championship golf courses, and popular hiking and biking nature tails.

About HREC®: HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With 16 offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.

For additional information on the property, please contact:

Jaimin Patel
Senior Vice President

Scott Stephens
COO & Senior Principal

Ashley Hunt
Director of Marketing

Coming Up In The November Online Hotel Business Review

Feature Focus
Architecture & Design: Authentic, Interactive and Immersive
If there is one dominant trend in the field of hotel architecture and design, it’s that travelers are demanding authentic, immersive and interactive experiences. This is especially true for Millennials but Baby Boomers are seeking out meaningful experiences as well. As a result, the development of immersive travel experiences - winery resorts, culinary resorts, resorts geared toward specific sports enthusiasts - will continue to expand. Another kind of immersive experience is an urban resort – one that provides all the elements you'd expect in a luxury resort, but urbanized. The urban resort hotel is designed as a staging area where the city itself provides all the amenities, and the hotel functions as a kind of sophisticated concierge service. Another trend is a re-thinking of the hotel lobby, which has evolved into an active social hub with flexible spaces for work and play, featuring cafe?s, bars, libraries, computer stations, game rooms, and more. The goal is to make this area as interactive as possible and to bring people together, making the space less of a traditional hotel lobby and more of a contemporary gathering place. This emphasis on the lobby has also had an associated effect on the size of hotel rooms – they are getting smaller. Since most activities are designed to take place in the lobby, there is less time spent in rooms which justifies their smaller design. Finally, the wellness and ecology movements are also having a major impact on design. The industry is actively adopting standards so that new structures are not only environmentally sustainable, but also promote optimum health and well- being for the travelers who will inhabit them. These are a few of the current trends in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.