Sale Of 71-room Waterfront Hotel For $5,500,000 in Florida
DSH Hotel Advisors, a national hotel brokerage and advisory firm headquartered in Tampa, Florida – specializing solely in hotel investment sales – announced that Dennis S. Hopper, CCIM, Managing Principal and Randy Taylor, Vice President Investments, arranged the sale of the Red Roof Inn in North Fort Myers, FL for $5,500,000 on June 1, 2022. DSH Hotel Advisors represented the seller, SHIVAM SUNDARAM HOTELS, LLC, and Plantation Realty represented the buyer RNA ALF, LLC.
DSH Hotel Advisors held the exclusive listing with the seller and the property was sold publicly – generating 17+ offers. The firm has also successfully listed and sold numerous hotels on a confidential basis, while maintaining the ability to maximize sale price. The sale contributes to DSH Hotel Advisors’ significant gain in market-share throughout Florida and the SE United States.
The Red Roof Inn in Fort Myers offers a tropical waterfront location, positioned scenically on the banks of the Caloosahatchee River. The hotel is situated within walking distance to several restaurants and a short walk across the Caloosahatchee bridge leads to the downtown area. Downtown Fort Myers features local highlights such as the Edison and Ford Winter Estates and Museum, the Southwest Florida Museum of History, Imaginarium Science Center, Fort Myers Skatium, Centennial Park as well as many restaurants and night life. Fort Myers Beach is a short drive away, as is the Southwest Florida International Airport for easy commuting.
“This sale highlights our firm’s ability to generate multiple offers from qualified buyers within a short timeframe and ultimately allows the seller to maximize the sale price as a result. The waterfront location of the hotel is very unique for this type of asset and provides the new owners with a lot of upside potential.” says Hopper.
“Due to the exclusive waterfront location, we were able to generate buyers from all over the US and internationally which allowed us to create a competitive bidding environment. It was a smooth transaction from start to finish working with the Seller (SHIVAM SUNDARAM HOTELS, LLC) and Buyer (RNA ALF, LLC). North Fort Myers and Lee County is growing at historically high rates and expecting several new developments over the next 3-5 years – we believe the buyers (RNA ALF LLC) will be extremely successful at this location.” says Taylor.