TAMPA, Fla., April 4, 2022 /PRNewswire/ — DSH Hotel Advisors, a national hotel brokerage and advisory firm headquartered in Tampa, Florida – specialized solely in hotels – announced that Dylan Amin, Investment Associate, and Dennis Hopper, CCIM, Managing Principal of the firm closed on the Baymont by Wyndham Midway/Tallahassee, FL on March 29, 2022 for an undisclosed price. Mr. Amin and Mr. Hopper represented the seller, DJK Properties, LLC, and the buyer, Lakulesh, Inc.
The sale represents one of many recent hotel transactions that DSH Hotel Advisors has brokered throughout the state of Florida. The firm is expecting numerous additional closings in the coming weeks and months – with a heavy concentration in the midscale hotel segment.
"We generated over 20 offers throughout the course of marketing the Baymont for sale. Buyers from all over the country were interested in the Baymont by Wyndham Midway/Tallahassee, which allowed us to create a competitive bidding environment between buyers and ultimately maximize the sale price for the seller. Due to operational inefficiencies and vacant land ready to be developed, the hotel has significant upside potential remaining for the new owner through capital improvements and enhancing property operations. Tallahassee is positioned for significant growth in the upcoming years which made this a unique acquisition opportunity for the first-time buyers (Lakulesh, Inc.) – we think that they are going to be very successful with this property," says Amin.
"We’re experiencing a major demand for economy and midscale hotels in Florida at present time. We observed that this segment weathered the storm the best during the peak of Covid (along with extended stay hotels), and I believe it created a new appeal for the property type – particularly throughout certain regions of Florida. We expect to see this trend continue for the foreseeable future – especially with people moving to Florida from all over the country in record numbers. To add to this – with rising inflation, hotels are the ideal product type due to the ability to adjust ADR quickly and add to top-line revenue," says Hopper.
About DSH Hotel Advisors www.DSHHotelAdvisors.com:
DSH Hotel Advisors is a national hotel brokerage and advisory firm based out of Tampa, Florida. The firm exclusively represents investors seeking an acquisition or disposition of hotel assets throughout the United States, with a regional focus in the southeast. The company has deeply rooted relationships with key personnel throughout the hospitality industry, including independent and institutional investors, real estate and franchise attorneys, management companies, franchisors, contractors, and lenders, allowing them to deliver a full spectrum of service to their clients and ensure the best team is on the field for every assignment. In addition to the vast network of hotel buyers within DSH Hotel Advisors’ network, the company also promotes collaboration with other brokerage firms in an effort to maximize the sales price on every exclusively listed assignment.
Media contact:
Dennis Hopper
333290@email4pr.com
813-605-1756
SOURCE DSH Hotel Advisors
