The HomeTowne Studios Fort Lauderdale is located in Broward County, 8 miles north of downtown Fort Lauderdale, and within close proximity to several demand generators. Directly across the street is Keiser University, home to 19,000 students, providing a significant source of demand. Adjacent to the hotel is Chase Stadium, home to the professional soccer team Miami FC, catering to sports enthusiasts. Fort Lauderdale Executive Airport, also directly next to the hotel, accommodates over 200,000 passengers each year, serving as a vital transportation hub. Furthermore, less than 12 miles south of the hotel, three universities – Nova Southeastern University, Broward College Central Campus, and Florida Atlantic University – Davie Campus, collectively serve over 56,000 students. Fort Lauderdale, a business hub, is home to U.S. Headquarters and major offices for over 150 companies, including DHL (10 minutes), Citrix Systems (8 minutes), and Microsoft (10 minutes). AutoNation, ranked #155 on the Fortune 500 list, is headquartered in the city, only 15 minutes away. Leisure demand generators include 24 miles of beaches attracting over 10 million tourists annually, the NHL’s Florida Panthers in Sunrise, FL, various shopping districts, outdoor activities, and casinos. Additionally, Fort Lauderdale-Hollywood International Airport,14 miles south, is the 17th busiest airport in the U.S., with over 35.1 million passengers in 2023. Port Everglades, a major cruise and cargo port 15 minutes from the hotel, generates over $26.5 billion in economic impact annually.

Cash Flowing Asset with Additional Upside

As of the trailing twelve-month financial period ending July 2024, the HomeTowne Studios Fort Lauderdale achieved a RevPAR of $60.60 and an impressive NOI of $893,914 (30.8% margin). Despite strong cash flows, the hotel ranked just 4 of 6 in comparison to its competitive set in terms of RevPAR with a penetration of 96.2%. Currently institutionally managed, a Buyer has the opportunity to raise performance metrics upon implementation of a new management strategy. Under new management, ownership will have the opportunity to improve on efficiencies and lower costs compared to those of a larger, institutional management company. New management can further improve on several expense categories that have begun to moderate such as labor, insurance, and RET while simultaneously growing rate with an improved product offering post completion of a minimal change-of- ownership PIP.