Marcus & Millichap has arranged the sale of the Holiday Inn Express & Suites Jacksonville Southeast Medical Center Area and Hampton Inn Jacksonville/Ponte Vedra Beach-Mayo Clinic Area. Both hotels are in the Jacksonville metropolitan area.
“Unlike in other select markets throughout the Southeast, these hotels maintained a positive year-over-year revenue trend during the sale process which enhanced marketability and helped insulate the value from downward pressure driven by elevated cost of debt and insurance,” said Robert S. Hunter, SVP, Marcus & Millichap. “The buyer can leverage the highly publicized large-scale Mayo Clinic expansion currently underway.”
The Holiday Inn Express & Suites is a 104-room hotel located less than five miles west of the 117-room Hampton Inn. Both hotels are five-story steel and concrete buildings constructed in the early 2000s. The Mayo Clinic is located between both properties.
Hunter and Leo Reilly, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the properties on behalf of the seller. The buyer, AON Hospitality Group, is a vertically integrated full-service hotel owner, operator and developer with a strong presence in North Florida and New England.
