COCOA BEACH, FL—The Doubletree Hotel Resort in Cocoa Beach has traded for $15.1 million. Pandey Hotel Corporation, a U.S. division of New Zealand-based CP Group, snapped up the hotel.
“In addition to its ocean front resort location, the variety of leisure, government and business activity around Cocoa Beach gives the Hotel added dimensions not usually associated with a resort location,” says John Andrews, asset manager for Pandey.
CBRE senior vice president Robert Taylor in Miami and Lisa Zaranek in Orlando marketed the portfolio for sale. The duo negotiated the transaction on behalf of the seller, Southern Hospitality, a hotel group based in Oklahoma City, OK.
“International buyers want Florida resorts in stable markets with strong fundamentals,” Taylor tells GlobeSt.com. “The central Florida region continues to grow its tourism base at very healthy pace. The site also offered room for expansion, which the buyers liked as well.”
The Doubletree Hotel Resort is located at 2080 North Atlantic Avenue. The resort has 148 rooms near both Orlando and NASA.
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