DALLAS, June 21, 2022 — RREAF Holdings LLC, a private real estate investment and development firm based in Dallas, and Innisfree Hotels, a premier coastal hotel operator in the southeast, today announced the acquisition of two boutique hotels in Amelia Island, Fla., on Fernandina Beach. The properties — Ocean Coast Hotel and Amelia Hotel — are situated in one of America’s leading drive-to destination markets, which saw over 1.3 million visitors in 2021.
The portfolio has 225 keys, and the properties sit adjacent to each other. The hotels are ideally located across the street from one of Florida’s iconic beaches and a few miles from Fernandina’s Historic Downtown. This market is well-positioned to capture pent-up travel demand of millions of Americans who live within a one-day drive of the Atlantic coast. Amelia Hotel is located at 1997 Fletcher Ave., and Ocean Coast Hotel is located at 2707 Sadler Rd.
“In the past year, we have more than doubled our hotel portfolio in our drive-to leisure division increasing our beachfront hotel properties to nine with more than 1,100 rooms. We will continue to expand the hospitality side of RREAF through acquisitions and development. Both these properties on Amelia Island fit perfectly within our growing hospitality and resort business model,” said Kip Sowden, CEO of RREAF Holdings. “We are opportunistic buyers and believe now is a good time to buy and develop as consumers are eager to get out and travel post-COVID. Our drive-to leisure hospitality assets continue to show very strong results and that trend is expected to continue even with inflationary pressure. We currently have two beachfront resort properties under development that will add an additional 550 rooms to our Beachfront Hospitality and Resort division. Affordable family friendly vacation spots, such as Amelia Island, should continue to outpace other sectors in the hospitality space.”
During the acquisition process, RREAF partnered with Innisfree Hotels, which will manage the properties. Innisfree is a best-in-class operator of beachfront hotels and resorts in the Southeastern United States. The hotels present immediate upside potential through professional management. The sponsors look forward to welcoming guests to a new experience in the near future. RREAF also anticipates driving top-line revenue and occupancy with Innisfree’s experienced management and marketing.
“We’re very pleased to add these stunning properties to the Innisfree Hotels portfolio, in partnership with RREAF Holdings,” said Innisfree President and CEO Ted Ent. “Amelia Island’s Fernandina Beach is a picture-perfect location for a family getaway or conference destination, and we are eager to provide our guests with a world-class experience and genuine Innisfree hospitality.”
With white-powder sand and stunning ocean views, hotel guests can experience one of Florida’s most relaxing vacation spots. Both properties supply first-class amenities at affordable rates, including complimentary breakfast, nature trails, large outdoor pool and hot tub, pet-friendly rooms for cats and dogs, sports courts and equipment, bikes, beach wagons, beach chairs, and more.
Learn more about RREAF at rreaf.com and Innisfree at innisfreehotels.com.
