Miami-based Key International buys Hampton Inn in Destin

The firm's $31.5 million acquisition of the 130-room hotel equated to about $242,000 per room

TRD MIAMI /
Jan.January 27, 2018 11:00 AM

Hampton Inn & Suites Destin

Key International bought a Hampton Inn & Suites hotel in the Florida Panhandle for $31.5 million.

The Miami-based real estate investment and development firm paid McNeill Hotel Co. about $242,000 per room for the 130-room hotel in Destin.

McNeill will continue to manage the hotel, located along the Gulf of Mexico at 1625 Highway 98 East in Destin.

Built in 1995, the Hampton Inn & Suites Destin underwent a $12 million renovation in 2014.

The hotel has 130 rooms including 43 studio suites. The properties amenities include outdoor grilling stations, fire pits, a gym, business center and resort-style swimming pool.

The hotel is near such attractions as the Destin Harbor Boardwalk, Track Family Recreation Center, and Big Kahuna’s Water and Adventure Park.

Destin is “a treasured beach town that sees tens of thousands of visitors during spring and summer peak seasons,” Diego Ardid, co-president of Key International, said in a prepared statement.

In other hotel projects outside South Florida, Key International last year topped construction of an Embassy Suites by Hilton in St. Augustine Beach and finished renovating a Hampton Inn & Suites in downtown Gainesville for nearly $2 million. [cpexecutive.com]Mike Seemuth


Related Articles

arrow_forward_ios
One Sotheby’s names SVP of marketing

One Sotheby’s names SVP of marketing

One Sotheby’s names SVP of marketing
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

TIAA sells Weston warehouse for $33M
Karen Elmir, Camilo Franco, and Caitlyn Henderson

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows
Sawgrass International Corporate Park

Brookdale buys back Sawgrass Park portfolio for $80M

Brookdale buys back Sawgrass Park portfolio for $80M
Paseo de la Riviera and Industrious CEO Jamie Hodari  

Industrious to open at Paseo de la Riviera in Coral Gables

Industrious to open at Paseo de la Riviera in Coral Gables
Daniel Crann and Timothy Peterson (Credit: iStock)

Movers & Shakers: Colliers taps development services head, Altman promotes COO & more

Movers & Shakers: Colliers taps development services head, Altman promotes COO & more
Steven Hurwitz and Doug Okun

Former CREC brokers join JLL as managing directors

Former CREC brokers join JLL as managing directors
State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...