BEST WESTERN SUGAR
SANDS INN & SUITES

Destin, Florida

Deal Type: Acquisition 

Risk Profile: Value-Add

Property Type: Hotel & Hospitality 

PROPERTY OVERVIEW

Excellent Location
The Best Western Sugar Sands Inn & Suites is conveniently located off Emerald Coast Parkway and adjacent to the Shoppes of Paradise Key, offering easy access to various nearby attractions. For a diverse shopping and entertainment experience, Destin Commons is only half a mile away, featuring more than 85 stores, restaurants, an AMC movie theater, an underwater-themed bowling alley, and Destin's first food hall. The hotel is also conveniently located five miles from the Silver Sands Premium Outlets, providing additional shopping opportunities with more than 100 outlet stores, and the Destin Harbor Boardwalk offering waterfront entertainment and dining options. The hotel is also within half a mile from the renowned Destin white sand beaches, spanning 24 miles with emerald green waters. With approximately 4.5 million visitors annually, Destin's popularity generates a significant local economic impact of $2.5 billion each year. Visitors can enjoy the pristine beaches, engage in shopping, dining, and partake in various outdoor activities such as boating, fishing, paddle boarding, and snorkeling. 

Excellent Value-Add Opportunity Through Brand Conversion

The Best Western Sugar Sands Inn & Suites offers the buyer a chance to convert to a Spark by Hilton. Spark by Hilton is a coveted new brand known for upscale amenities, outstanding guest services, and prime locations. This conversion opportunity is ideal for hotel owners aiming to enhance their property's value, increase brand recognition, and attract discerning guests. Spark by Hilton's robust reputation ensures a consistent flow of loyal global guests, complemented by the Hilton Honors reward program with over 128 million members across 18 brands and 6,500 hotels worldwide.

Recently Expanded & Renovated Hotel

The Best Western Sugar Sands Inn & Suites recently underwent an expansion and full renovation that was completed in June 2023. The renovation involved a complete overhaul and full revamp of the existing property, alongside the addition of 54 guest rooms. This presents prospective buyers with the opportunity to capitalize on the revenue upside through the ramp up of the additional room inventory. 

Offered Below Replacement Cost in High Barrier to Entry Market

The Best Western Sugar Sands Inn & Suites is being offered at a discount to replacement cost with construction costs at an all-time high. The offering presents an opportunity to buy into a high barrier market at an attractive basis.