PROPERTY OVERVIEW

Premier Access & Location  

The Hampton Inn Vero Beach is located at the intersection of I-95 and State Road 60, two of Florida’s most trafficked thoroughfares that see a combined 70K travelers daily.  The Hotel’s location provides convenient access to Vero's growing downtown and famous beaches (20 minutes), Orlando (1.5 hours), Tampa & Miami (each, 2.5 hours).  Additionally, the Hotel is located adjacent to the 340,000 SF Vero Beach Outlets. Furthermore, the hotel is positioned within a 12-minute drive from the renowned Jackie Robinson Training Complex, an 80-acre sports and conference center. Additionally, within a 20-minute drive from the hotel are numerous demand generators including the Indian River Mall, Vero Beach Regional Airport, Cleveland Clinic Indian River Hospital, Grand Harbor Golf & Beach Club, Vero Beach Polo Grounds, and the McKee Botanical Gardens. 

Strong Performance with Additional Upside Upon Renovation 

The Hampton Inn Vero Beach has demonstrated strong performance, boasting a TTM RevPAR of $109.55 through September 2023. The new owner will have the opportunity to improve cost efficiencies allowing for a higher NOI Margin and Cash Flow improvement. Additionally, the required change-of ownership PIP will allow for further performance improvement.

Dynamic Market Fundamentals 

Similar to the broader trend in Florida, Vero Beach has experienced substantial economic growth in the past decade. Hotel demand has surged, increasing by over five times in the last ten years. However, supply is expected to remain limited, with only an 80-key hotel recently added, constituting just 1% of the existing inventory. Anticipated population growth from various parts of Florida and the United States is set to drive continued demand in the region. This combination of heightened demand and restricted supply is poised to enhance the overall performance of the hotel market.