Hunter Advisors has been retained as the exclusive representative to solicit offers for the purchase of the 132-room, four-story Spark Sarasota Siesta Key Gateway (the “Hotel” or “Property”).
Ideally located just one mile from the shoreline, the Hotel is the closest Hilton, Marriott, Hyatt, or IHG-branded asset to world-renowned Siesta Key, consistently ranked the #1 Beach in the United States and #4 Beach in the World, drawing over 2.2 million visitors annually.
Following a comprehensive renovation, the Property rebranded on November 16, 2023 under the Spark by Hilton brand. The conversion included fully upgraded guestrooms, new FF&E, and extensive soft-cost improvements—resulting in a modern, turn-key operation with strong brand affiliation.
This offering presents a rare opportunity to acquire a recently renovated, $125+ RevPAR asset with highly profitable in-place operations, located in one of the most desirable and highest barrier-to-entry submarkets in the U.S. The recent repositioning provides a stabilized cash-flow profile with significant upside potential for a new owner.
- Irreplaceable Location – Closest Branded Hotel to Siesta Key: Just one mile from the beach, the Hotel benefits from 2.2M+ annual visitors and virtually no other institutional brand presence. Backed by Hilton’s global distribution and 210M Honors members, the Property enjoys outsized rate and occupancy advantages.
- Recently Renovated Hilton-Branded Asset: The hotel was rebranded as a Spark in November 2023 after a comprehensive conversion renovation, including upgrades to guestrooms, bathrooms, FF&E, and life-safety systems. The hotel will be delivered as a modern, turn-key operation, requiring only nominal capital expenditures upon change of ownership.
- High Barriers to Entry: Strict zoning, density caps, and entitlement hurdles make new hotel supply highly improbable.
- Strong, Growing Performance: With RevPAR and NOI having increased since conversion, there remains additional upside for a new owner to capitalize on the recent renovations and drive further growth.
- Attractive Pricing: The property is offered below replacement cost in a high-growth market with substantial economic activity and visitor demand.
- Management Optionality: The Hotel is currently managed by Magna Hospitality Group and is available to be sold unencumbered.
