Hampton Inn & Suites in the Florida Panhandle sold
JLL Hotels closed the sale of the Hampton Inn & Suites hotel in Pensacola, FL
JLL represented the seller in completing the transaction to the buyer, Omega Hotel Group.
The Hampton Inn & Suites I-10 North was built in 2006 and is located at 7050 Plantation Road and totals 85 keys. The Property is strategically positioned near the junction of Interstates 10 and 110 and proximate to Pensacola International Airport, Port of Pensacola, Pensacola Beach and the Naval Air Station.
The Florida Panhandle is continuously demonstrating positive market fundamentals, with drive-to leisure located hotels showing one of the fastest paces of industry recovery. The market has shown tremendous resilience with Q4 2020 RevPAR significantly outpacing prior year (up 31 percent YOY).
The JLL Hotels & Hospitality team representing the seller was led by Vice President Steve Leslie and Senior Managing Director Gregory Rumpel.
“We experienced a tremendous amount of interest on the sale of the Hampton Inn & Suites Pensacola with a buyer pool that has even expanded from pre-Covid-19 levels motivated by strong branding, improving RevPAR fundamentals and a revived focus on drive-to-markets,” said Leslie.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.