DSH Hotel Advisors, announced that Dennis S. Hopper, CCIM, Managing Principal of the firm, and Randy B. Taylor, Senior Vice President Investments, arranged the sale of the 72-room Hampton Inn by Hilton in Spring Hill (a submarket of Tampa) for $9,400,000 on June 5th, 2023. DSH Hotel Advisors represented the seller, Kinnari, Inc. and the buyer QDI 4, LLC a QDI USA Developments Group company.
DSH Hotel Advisors held the exclusive listing with the seller, generating 216 signed Confidentiality Agreements and 18 offers from qualified buyers throughout the country and internationally.
"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." says Hopper.
"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." says Taylor.
The Hampton Inn by Hilton in Spring Hill is situated just east of Hernando Beach, a suburb of Tampa, and in close proximity to the tremendous amount of growth taking place in the Tampa Bay Area. The hotel has been recently renovated, having completed the Forever Young Initiative Interior/Exterior updates, as well as a new roof and updated flooring and lighting throughout.