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Daytona Beach, Florida Daytona Beach, Florida Opportunity to Acquire a Well Posi4oned Hotel with Substanal Upside in Daytona Beach Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com HOTEL - AT A GLANCE Address: 103 S. Ocean Ave. Dayton Beach, Florida 32118 Hotel Size: 8 Stories, 112 Rooms , Building: 123,230 SF. Land: 1.018 Acres Renovaons : Completed December 2017 FuncVon Space: Renovated MeeVng / Breakfast Room, 40’ Tiki Deck, Sports Bar Hotel AmeniVes: Wifi, Outdoor Heated Pool, Ocean Front Tiki Deck, Beach Other AmeniVes: Adjoining Rooms Available, Full Kitchen Rooms Available Year Built: 1973 APN/Parcel ID: 04-15-33-01-03-0020 / Zoning DescripVon: RDB1 Building Class: Hotels/ Motels (039) Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com OFFERING Direct Oceanfront Hotel located at 103 S. Ocean Ave. Daytona Beach, Florida. The Mayan Inn features 112 completely renovated rooms, all with full balconies offering direct ocean views. The hotels’ ameniVes include a breakfast / meeVng room, sports bar for live entertainment, 40’ Tiki- deck for private events, and a heated outdoor pool overlooking “The World’s Most Famous Beach”. This locaon also provides easy walking access to many of Daytona Beach's top aracVons and businesses. Only a few blocks away from the Daytona Beach pier, main street and Daytona’s boardwalk and amphitheatre. Located within 4.5 miles of the Daytona Beach Airport and the Daytona Internaonal Speedway, Daytona 500 and Coke Zero 400. Walt Disney World, Universal, Sea World and Cape Canaveral are less than an hour's drive away. The hotels revenues are strong with a value-add opportunity to increase rates while keeping the independent hotel as-is, unencumbered from management. In addion, the current owner has received interest from a limited service hotel franchise to flag the hotel With aggressive incenVves for a new owner as an opVon to Re-brand the hotel which would be geared to both leisure and business travelers. Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com CAPITAL IMPROVEMENTS Renovaons Completed: January 2018 -Lobby completely renovated. -Breakfast / MeeVng area renovaon complete. -Pool Area complete. Pool resurfaced, new furniture. -Bar completely renovated. New flooring, furniture, appliances. -Carpets in all guest rooms replaced with Vle. -New bathroom flooring and fixtures in all rooms. -All guest bathrooms have new granite counter top and vanity. -All new appliance package in 14 of the full kitchen / Suite rooms. -The addiVonal 98 rooms have new refrigerators and microwaves. -Tub to Shower Conversion in guest bathrooms. -Installing new Artwork in guest rooms. -All new light fixtures for interior and exterior of property. -All rooms have been textured and painted. -Complete landscaping package. VALUE ENHANCEMNET OPPORTNITIES -All Renovaon in common areas complete. -Repainted complete exterior of building. Floors, railings and doors. -Replaced 70% of the PTACs in guest rooms. -Replaced all common areas ACs. -All new linens complete and 2 PAR for property. -Property has all brand new bed frames and maresses. -All TVs have been replaced in guest rooms & common areas. -Tiki deck completely remodeled and new Tiki built on top. -Changed all Interior and exterior doors on the whole property. -Both elevators completely modernized. -Resurfaced parking lot. -Installed new property line fencing. -New roof Installed. Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com INVESTMENT HIGHLIGHTS -Highly Visable, Epicenter Locaon In Daytona Beach. -Recently Renovated Asset at a Significant Discount to Replacement Value. -The ProperVes Interior Renovaons of Rooms and Common Areas have been Completed. -The Exterior of the Building has New paint, R oof, Fence, and a Resurfaced Parking Lot. -ConsecuVve Record Year for Florida Tourism Directly Benefits Daytona Beach. -Unencumbered by Management. VALUE ENHANCEMNET OPPORTNITIES - Introduce a New Restaurant & Tiki Deck Bar to the Vacant Space. - Enclose exterior Coridors. - Explore Re-Branding opons. - Opportunity to Close Occupancy Gap within the Compeve Set. Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com DAYTONA BEACH NOW The City of Daytona Beach’s goal has been to build upon its reputation as a year-round destination resort and convention location through the following initiatives: • Redevelopment of the historic district along Beach Street and the old downtown waterfront area. • Zoning districts that encourage the development of hospitality uses in the areas on either side of International Speedway Blvd. (ISB) between Atlantic Avenue and the Intracoastal Waterway (Halifax River). • Road and landscape improvements along Speedway from US 1 to the ocean, and all along Atlantic Avenue. • Promotional campaigns to boost convention business, coupled with $76 million expansion to its convention complex, tripling its size. While Daytona is located on the east coast, its influence and activity market area extends along the ocean from Ormond Beach south through Daytona Beach, Daytona Beach Shores, Wilber by the Sea, Ponce Inlet, and down to New Smyrna Beach for total distance of 36 miles of beach area. It extends inland to the Deland, Deltona and Orange City and northward to lager County. Along with the sand, sun and surf, several manufacturing firms, including numerous medical device manufacturers, calls Deltona-Daytona Beach-Ormond Beach home. Several healthcare giants such as Tyco Healthcare/Kendall and Gambro-Renal Products have facilities in the region. Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com DAYTONA BEACH NOW - Connued Travel and Hospitality • An increase in internaonal travel to U.S. resort desVnaVons as a result of favorable exchange rates. • 95% of Florida visitors to the Daytona Beach area are repeat visitors. • 35% of out-of-town visitors are new visitors. • “Close to home” remains the main draw with visitors from Florida, indicang they are familiar with the events and the area. • Florida visitors stay an average of 2.4 days. • Out-of-state visitors stay 4.7 days, and 74% drive their own vehicles to Daytona while 26% fly. • Average travel party size for Florida residents was 2.3 people and 2.4 for out-of-state visitors. • 84% of Florida residents traveled with no children under 18, while 77% of out-of-state visitors traveled with no children under 18. (Source: PricewaterhouseCoopers LLP and Smith Travel Research) Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com DAYTONA BEACH NOW - Connued ONE DAYTONA will serve as the Daytona Beach area’s premier retail, dining and entertainment desnaon beginning in 2017. Located directly across from the all-new Daytona Internaonal Speedway, the world’s first motor sports stadium, ONE DAYTONA will serve as a gateway to Daytona Beach at the crossroad of I-95 and I-4. With over 300,000 square feet and a projected investment of approximately $120 - $150 million, ONE- DAYTONA is a significant project anchored by Bass Pro Shops®, Cobb Theatre, a Marrioi Autograph Collecon® hotel and Fairfield Inn & Suites, and an approximately 300-unit residenal apartment community including a four-story mid-rise campus and garden style complex. ONE DAYTONA will quickly become synonymous with visitors, meeng and convenVon delegates, race fans and residents as east Central Florida’s place to live, work, stay and play. Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com HOTEL LOCATION Strength: Location • Optimal Oceanfront location in Daytona Beach. • Close proximately to all major venues and points of interest in the area. Landscape • Generous views of Atlantic Ocean. Future of the Waterfront Area • Benefit from new Waterfront vision: City council has implemented a substantial development plan focused on the improvement of the waterfront areas. • Over $2 billion being invested in infrastructure and airport, coupled with massive private development spending for new condominium and hotel projects Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com MAP Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com AERIAL Future MarrioS Courtyard City Parking Lot Private Land Mayan Inn Perry Alan Simowitz, PA Florida Capital Realty Estate Agent Luxury Condo / Hotels & Resorts M:+1.954.654.1711 / Skype: EuropeUSA E:[email protected] / W:PerryAlan.com AERIAL Future Mayan Inn MarrioS City Courtyard Parking Lot Private Land Perry Alan Simowitz,
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