MIAMI – March 30, 2021 – JLL Hotels & Hospitality announced today that it has closed the sale of the Hampton Inn & Suites I-10 North hotel located in Pensacola, Florida.
JLL represented the seller in completing the transaction to the buyer, Omega Hotel Group.
The Hampton Inn & Suites I-10 North was built in 2006 and is located at 7050 Plantation Road and totals 85 keys. The Property is strategically positioned near the junction of Interstates 10 and 110 and proximate to Pensacola International Airport, Port of Pensacola, Pensacola Beach and the Naval Air Station.
The Florida Panhandle is continuously demonstrating positive market fundamentals, with drive-to leisure located hotels showing one of the fastest paces of industry recovery. The market has shown tremendous resilience with Q4 2020 RevPAR significantly outpacing prior year (up 31 percent YOY).
The JLL Hotels & Hospitality team representing the seller was led by Vice President Steve Leslie and Senior Managing Director Gregory Rumpel.
“We experienced a tremendous amount of interest on the sale of the Hampton Inn & Suites Pensacola with a buyer pool that has even expanded from pre-Covid-19 levels motivated by strong branding, improving RevPAR fundamentals and a revived focus on drive-to-markets,” said Leslie.
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