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 20, 2025
Donald Trump, Elon Musk cancel and restructure 100 federal leases
Nearly 100 deals spanning more than two million square feet are already on the chopping block.

Los Angeles
Feb 28, 2025
Seminole Tribe fund buys 144-unit Miracle Mile asset for $68.4M
Seminole Real Estate Fund, an investment firm with links to the Seminole Tribe of Florida, has acquired the Vinz on Fairfax.

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.

New York
Dec 17, 2024
Flagstar Bank looks to sell $343M worth of troubled NYC loans
Flagstar Bank, formerly New York Community Bank, wants to sell $343 million worth of struggling New York loans.

New York
Feb 28, 2025
Judge denies Yitzchak Tessler’s plea to unfreeze bank accounts
The developer of 172 Madison is caught in a lawsuit over unsold units at the troubled luxury condo project