Location: Daytona Beach, Florida, USA. 2.6 miles from Daytona Boardwalk
Name: The Best Western Aku Tiki – opportunity to rebrand as DoubleTree by Hilton
No. of Keys: 132
The Property: This five-storey hotel sits on 2.32 acres of ocean-front land with 132 rooms, all either ocean-view or pool-view, built in 1968. The hotel has a restaurant, outdoor pool, fitness centre. Big structural renovations (e.g. balcony doors, high strength aluminium railings) since 2017.
Stunning location…known as “The World’s Most Famous Daytona Beach” has 23 miles of pristine white beaches with a rich history starting with Henry Flagler putting it on the map as a tourist destination which brought the Rockefeller family and eventually leading to the start of NASCAR.
Daytona Beach is famous for being a location with beautiful beaches and catering to what is locally known as the special events. Daytona Lagoon water park is five minutes’ drive from this hotel. Daytona Beach International Airport and Daytona International Speedway are six miles away.
Main Photo: The BW Aku Tiki Inn as is
Brand/Management: Currently under Best Western. A full report available as to what it would take to convert the hotel to DoubleTree by Hilton, dated June 2019
Current Owner: Private company
Guide Price: US$18m
Guide Price per Key: US$ 136,363
Financials: US$4.7m gross revenue; NOI/EBITDA 31.7% – $1.5m; STR reports above average Occupancy, ADR and RevPAR for their competitive set (August 2019)
Agent: Marcus & Millichap
Date Posted: October 2019
THPT Comment: A fab opportunity to acquire a great hotel, in a iconic location, with ocean-front and refurb to four or five star standard, at a very decent price.
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MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.