Hunter Advisors is pleased to offer for sale the Courtyard by Marriott and Residence Inn by Marriott Tallahassee North I-10 Capital Circle, a 171-key dual-Marriott portfolio. Located at the intersection of I-10 and Capital Circle, the Hotels benefit from proximity to Florida’s State Capitol, Florida State University, and Florida A&M University, and are uniquely positioned to capture Tallahassee’s resilient government, education, and sports-driven demand base.
Strong In-Place Cash Flow with Upside
The Portfolio collectively produces $2.5 million of NOI at a blended 32% margin, demonstrating durable cash flow supported by diverse demand drivers. Both Hotels will undergo brand-mandated change-of-ownership PIPs, positioning a new owner to refresh the product, drive rate accretion, and capture additional topline growth beyond already-strong in-place performance.
Attractive Basis Below Replacement Cost
Offered at a basis below estimated all-in replacement cost, the Portfolio provides investors the opportunity to acquire two Marriott-branded assets at a material discount to new development. Given today’s elevated land, labor, and construction costs across Florida, replicating similar assets in this location would require significantly higher investment.
Operational Synergies and Shared Efficiencies
Located side-by-side, the Courtyard and Residence Inn serve complementary demand segments, from transient corporate and group travelers to extended-stay guests. Their adjacency enables meaningful cost savings through shared staffing, consolidated sales coverage, and procurement efficiencies, enhancing profitability and competitive positioning.
FSU Stadium Renovation Driving Market Tailwinds
Florida State University recently completed a $265 million renovation of Doak Campbell Stadium, adding premium seating, expanded concourses, and upgraded fan amenities. These improvements elevate the market’s demand profile by increasing ticket pricing power and attracting a higher-spending visitor base, which directly benefits nearby hotels.
Premium 2025 Collegiate Football Schedule
The 2025 season features marquee home games against Alabama, Miami, Pitt, Wake Forest, and Virginia Tech, creating multiple peak-demand weekends. The impact is already being felt, with the Portfolio achieving a 126% year-over-year revenue increase during the Alabama weekend compared to the Boston College opener in 2024, underscoring the rate growth potential from Tallahassee’s sports-driven lodging demand.
