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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.

The hotel’s new owners are renaming the property, Clarion Inn & Suites. The hotel’s previous operator, a contract management company, has been replaced with an on-site general manager, according to Patrick Murphy, a Tynmar Corp. officer who helped broker the deal. The sellers are a limited partnership headed by Richard Vogel and Walter Bush Jr., both of Naples.

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