On June 5th, 2023, DSH Hotel Advisors, a firm specializing in hotel consulting, announced the successful sale of the 72-room Hampton Inn by Hilton located in Spring Hill, a submarket of Tampa. The transaction, totaling $9,400,000, was facilitated by Dennis S. Hopper, CCIM, Managing Principal of DSH Hotel Advisors, and Randy B. Taylor, Senior Vice President Investments.
Representing the seller, Kinnari, Inc., DSH Hotel Advisors worked diligently to secure a buyer. The purchaser, QDI 4, LLC, is a company within the QDI USA Developments Group. DSH Hotel Advisors held the exclusive listing for the property, attracting significant interest from potential buyers. Throughout the process, they received 216 signed Confidentiality Agreements and received 18 offers from qualified buyers across the country and internationally.
The Hampton Inn by Hilton in Spring Hill enjoys a strategic location just east of Hernando Beach, a suburb of Tampa. With the ongoing growth in the Tampa Bay Area, the hotel stands to benefit from the thriving local economy. Notably, the property has undergone recent renovations, including updates to its interiors and exteriors through the Forever Young Initiative. Additionally, a new roof has been installed, along with refreshed flooring and lighting throughout the hotel.
Hopper: “This Hampton Inn marks the third hotel that we’ve sold in Spring Hill, FL in the last 10 months. Marketing the Hampton Inn for sale really stirred up a ton of interest from our network of hotel investors throughout the country and internationally – as it was an opportunity to purchase a Hilton product in the Tampa area with healthy returns and potential for additional upside. Both buyer and seller of the Hampton were repeat clients for us – we’re glad to continue working together and contributing towards their investment objectives.”
Taylor: “We are very excited to bring this deal through the finish line for our clients and achieve healthy market pricing on this asset. Due to our extensive network of hotel buyers, we were able generate multiple offers, align with the goals of both buyer/sellers, and successfully represent both sides of the transaction. Market conditions are beginning to shift, however; buyers are actively inquiring with our team to find hotels and we expect to have several new hotel listings on the market in the upcoming months.”