Overview
Kabani Hotel Group, as an exclusive representative of the seller, is pleased to present for sale the DoubleTree Gainesville. The subject property is a full-service, 205-room interior corridor hotel, built in 1986, with a lot size of 5.66 acres. The Hilton- branded hotel located directly off of the I-75 exit near Archer Road, steps from many of Gainesville’s biggest demand drivers, including the University of Florida, Ben Hill Griffin Stadium (“The Swamp”), and the Medical Cluster highlighted by UF Health Shands Hospital. Major nearby throughfares I-75 and Archer Road. Amenities include a spacious bar, restaurant, market pantry, outdoor pool, fitness center and business center, in addition to approximately 7,000 square feet of indoor and outdoor meeting space.
Investment Highlights
- In 2017, the property achieved more than $7,500,000 in room revenue and $2,600,000 in NOI displaying the asset’s considerable untapped operational potential.
- University of Florida has been ranked the No. 1 public university in the country in the Wall Street Journal’s “2024 Best Colleges in the U.S.”.
- The property has been trending positively in the past three years in revenue and net operating income growth. The RevPAR was $84.69 in 2023 and has yet to stabilize to 2017 levels at $100.35.
- The Property is one of the most accessible and visible hotels in the Gainesville market. The strategic location just off Interstate 75 and proximate to many of Gainesville’s biggest demand drivers allows the Property to cater to a diverse mix of travelers.
- The Hotel is located in the heart of the busiest retail corridor in Gainesville and benefits from the recently completed Neighborhoods at Butler, Florida’s largest retail power center with over two million square feet, and Celebration Pointe, a 160-acre, one million plus square foot mixed-use development, which is continuing to expand and features over 400,000 square feet of retail space, 1,000 multifamily units, and 300,000 square feet of Class-A office space.
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