Recent transactions include OTO Development acquiring the beachfront Dunes Manor resort complex in Ocean City, MD; BlackSand Capital completing the purchase of a resort on Maui island in Hawaii; affiliates of Paceline Equity partners acquiring two hotels in Orlando; and Hodges Ward Elliott arranging the sale of a boutique property in Charleston, SC.
OTO Development acquires Dunes Manor Hotel, Court & Suites
OTO Development has acquired Dunes Manor Hotel, Court & Suites in Ocean City, MD. The deal adds a long-popular resort complex to the hotelier’s growing beachfront portfolio.
The Dunes Manor complex offers three experiences within one resort that’s adjacent to the boardwalk terminus and across the street from Jolly Roger Amusement Park. It’s also near Ocean City’s Roland E. Powell Convention Center.
The 170-room Dunes Manor Hotel combines Victorian grandeur with an ocean-front charm that includes rocking chairs and afternoon tea. The 64-key Dunes Suites offers a little extra beachfront space, including full kitchens and private balconies. Dunes Court is a retro-chic motel whose 49 rooms are open seasonally. Among the amenities are indoor and outdoor pools; F&B outlets including The Victorian Room and the Zippy Lewis Lounge; and 5,000 sq. ft. of meeting/event space.
BlackSand Capital completes purchase of Royal Lahaina Resort
BlackSand Capital, a locally owned and managed Hawaii specialist real estate investment firm, has completed the purchase of the Royal Lahaina Resort on Maui from Pleasant Travel Service. The terms of the sale, including financial details, are not being disclosed
Located on 27 acres of beachfront, the 500-room resort features original beachside cottages, the 12-story Lahaina Kai Tower, resort amenities and luau grounds.
Paceline Equity Partners affiliates acquire two Orlando hotels
Affiliates of Paceline Equity Partners LLC, a Dallas-based private equity manager, have acquired two limited-service hotels in Orlando, the Fairfield Inn & Suites by Marriott Orlando International Drive/Convention Center and the Residence Inn Near Universal Orlando.
The Fairfield Inn & Suites, built in 2001 and renovated in 2013, has 160 rooms and amenities including an outdoor pool, meeting space, business center and fitness center. The hotel is located in the International Dr. area of Orlando within walking distance of ICON Park. Paceline is planning an extensive property improvement plan in 2022 to elevate the guestroom experience.
The Residence Inn, built in 2018 and has 195 rooms, includes a full kitchen in every room, outdoor pool, meeting space, business center, fitness center and putting green. The hotel is located in the International Drive area of Orlando and benefits from numerous demand drivers including Universal Orlando and the Convention Center.
Hodges Ward Elliott arranges sale of Hotel Bella Grace
Hodges Ward Elliott represented the seller in the recent sale of Hotel Bella Grace, a boutique hotel in the heart of Charleston, SC’s Historic District.
An HWE team composed of Pete Dannemiller, Nate Ries and Vijesh Patel represented the seller in the transaction.
Newly opened just three years ago, the hotel has 50 guestrooms designed for longer stays and all featuring European-style built-in kitchens or kitchenettes. Amenities include meeting space, a fitness center and an adjacent restaurant building housing The Delaney Oyster House.