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Case Study

Strong interest in Dayton Beach asset

Jones Lang LaSalle's Hotels & Hospitality team represented LNR Partners in the fee simple sale of the 215-room Perry’s Ocean Edge Resort located in Daytona Beach, Florida. 
 
The Property is strategically located on approximately 5.5 acres with 700 linear feet of oceanfront.  Although operated as an independent, the hotel has historically reported a strong competitive position within the market.
LNR foreclosed on the Property in August 2011 and hired Janus Hotels as operator.  As hotel performance steadily improved, interest in the asset increased going into 2012.  The Daytona Beach market is dominated by tourism demand, therefore given its attractive upside potential as the tourism market recovers and its oceanfront location, Jones Lang LaSalle completed the all-cash sale in April 2012 prior to the strong Summer tourist season. 

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