Florida hotels will be a great buy for investors who can sort out the many distressed debt issues created by the commercial real estate crisis and recession-driven revenue reductions, a new report said. HREC Investment Advisors, a national hotel brokerage, said investors continue to show interest in Florida due to a long-term positive outlook for the market. There are 79 distressed hotels within the state’s major markets, totaling $1.2 billion, based on Real Capital Analytics research. Among the most notable properties are the Fontainebleau and Royal Palm, both in Miami Beach, the Sheraton Orlando Downtown and the Bray & Gillespie Management portfolio in Daytona Beach. In Orlando, the second-largest hotel market in the country, occupancy fell below 55 percent in early October, according to Smith Travel Research. [GlobeSt]
Trending
Hotel market ready for buyers
Recommended For You

National
Feb 27, 2025
Trump dictates deadline for federal agencies to leave D.C.
The president is giving agency heads a few weeks to determine how their departments can relocate to “less-costly” parts of the country.

Los Angeles
Feb 28, 2025
$40M Encino manse to set new listing record
A new record has been set in Encino with the listing of a nearly $40 million estate as interest spikes in the neighborhood.

South Florida
Feb 28, 2025
Thrive Capital boss buys waterfront Miami Beach home for $27M
Kareem and Raquel Zaki bought a waterfront Miami Beach house for $26.8 million, the latest pricey sale in South Florida real estate’s busy season.

New York
Feb 28, 2025
Flagstar finds buyer for $343M of troubled loans on NYC buildings
Loan Star Funds is picking up the debt on the New York City assets for a small discount to par.

South Florida
Feb 28, 2025
Industrial vs yachts: Boat storage owner plans to replace Dania Beach marina with spec warehouses
The owner of the Banyan Bay Marine Center in Dania Beach plans to replace the marina with two warehouses totaling about 170,000 square feet.