Local Investors Pick Up Clarion Inn for $7.2 Mil or $72,000 Per Room

NAPLES-Local private investors have acquired the five-story, 100-room Clarion Inn on U.S. 41 North from local sellers for $7.2 million or $72,000 per room. The asset last sold 10 years ago for $4.75 million or $74,219 per room when it was a 64-room property. The hotel underwent a multimillion-dollar renovation and 36-suite expansion three years ago.

The acquisition by Tynmar Corp. in this affluent community is considered a bargain. “Most new hotel chains can’t build luxury rooms or suites today for under $100,000 per room,” Robin L. Webb, vice president/general manager of Arvida Realty Services’ hotel/commercial division in Winter Park, tells GlobeSt.com.