DSH Hotel Advisors announced the sale of the 68-room Microtel Inn & Suites by Wyndham Spring Hill/Weeki Wachee for an undisclosed price on August 8, 2022. DSH Hotel Advisors represented the seller, S&R Hospitality LLC, and the buyer, Evolve Hospitality LLC.
DSH Hotel Advisors conducted an exclusive auction with the seller, generating over 200 signed non-disclosure agreements from eligible buyers and receiving over 20 bids from buyers across the country.
“We were able to leverage our extensive network of hotel investors and maximize the sale price of the hotel. Generating over 20 bids is a great sign that i) our team has a significant market presence for this asset class ii) this hotel was a very attractive acquisition opportunity for investors and iii) the hotel market in Florida is in good shape with significant capital ready to invest in the purchase of hotel assets,” says Hopper.
“The sale of the Microtel Inn & Suites Weeki Wachee/Spring Hill represents an incredible opportunity for the Buyer to acquire a newly renovated hotel in the growing Florida market. Thanks to our marketing activities, we received a lot of interest from buyers from around the world USA and in a short time provided the seller with many offers to choose from. Spring Hill is developing in parallel with Tampa Bay and we believe buyers will find great success in this location,” says Taylor.
Microtel Inn & Suites by Wyndham Spring Hill/Weeki Wachee is proud to win TripAdvisor’s Traveller’s Choice Award 2021. In addition, the Microtel Inn & Suites by Wyndham Spring Hill/Weeki Wachee has earned the unique “Best of Microtel” accolade, an award given annually exclusively to Microtel’s elite group of hotels, and is based on the brand’s leading quality, customer satisfaction and support from Wyndham Rewards members.
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