Hotel Management Network

Daily Newsletter

07 August 2023

Daily Newsletter

DSH Hotel Advisors, a Tampa, Florida-based hotel brokerage and advisory firm, has arranged the divestment of the 48-room Super 8 by Wyndham Ormond Beach, Florida, for an undisclosed price.

The advisory firm represented the undisclosed buyer, and the seller, 3Hospitality of Ormond.

DSH Hotel Advisors CCIM, managing principal Dennis S. Hopper said: "We have a good pulse on the market, and we have qualified buyers reaching out to us daily looking for hotel assets – this allowed for us to broker the sale of the Super 8 by Wyndham Ormond Beach, off-market, and resulted in a quick contract to closing window with a successful sales result achieved for all parties."

DSH Hotel Advisors senior vice president for investments Randy B. Taylor said: "The Super 8 by Wyndham Ormond Beach, was sold confidentially (off-market) and presented a great opportunity for us to show the seller we have an extremely strong buyer pool for limited-service hotels in Florida.

“In less than 30 days of working on this deal, we were able to achieve healthy market pricing for the seller while still leaving room for the buyer to further improve revenues and continue the long-term success at this location," says Taylor.

Super 8 by Wyndham Ormond Beach, which is located conveniently on US Highway 1 between Daytona Beach and Flagler Beach, features the Wyndham Green designation, which indicates that the property implements best practices for energy and water conservation, operational efficiency, and team member and franchise training and engagement.

The pet-friendly hotel also has convenient access to Ormond beaches and Daytona International Speedway.

Its lobby offers free light breakfast item along with choice of coffee, tea and juice at the lobby.

Besides being equipped with a refrigerator, 32-inch flat-screen TV, guest rooms also offer free WiFi and guest laundry facilities.

Demand for upscale and luxurious products has been rising steadily in the travel and tourism sector

The theme of premiumization, and the upscale and luxury markets, now have the opportunity to thrive in an industry that has had to rapidly change to meet new changes in traveler demands. The increased need for privacy, a greater focus on health and wellbeing, a desire to tick off ‘bucket list’ experiences, unintentional saving of money, the tendency to take longer trips, the focus on eco-tourism, and an increase in millionaires means the theme of premiumization will continue to grow in importance. The travel industry will experience a surge in demand for higher-end and customized offerings as experiential consumption keeps growing. For many, ‘premium’ means a variety of things. However, it refers to first-rate service, extreme comfort, and one-of-a-kind experiences in travel and tourism. Premiumization is closely linked to luxury travel. While premiumization attracts only a small number of global travelers, it is important for companies as it is a valuable revenue stream that is unlikely to be impacted by external factors like economic downturns. Personalization is key in premium offerings, the shift from focusing solely on premium products to an emphasis on delivering exclusive and personalized offerings is apparent. Therefore, smart destinations can help to create hyper-personalized services and products. Leveraging the Internet of Things, destinations can curate offerings based on gathering real-time data on guest preferences and behaviors. This enables the industry to transcend typical offerings and remain competitive.