Baymont by Wyndham – Midway/Tallahassee, Florida Sold

Baymont by Wyndham – Midway/Tallahassee, Florida

DSH Hotel Advisors announced that the business closed on the Baymont by Wyndham Midway/Tallahassee, FL on March 29, 2022 for an undisclosed price.

“We generated over 20 bids throughout the Baymont for sale market. Buyers across the country were interested in the Baymont by Wyndham Midway/Tallahassee, which allowed us to create a competitive bidding environment between buyers and to maximize the sale price for the seller.Due to operational inefficiencies and vacant land ready for development, the hotel has significant growth potential for the new owner through capital improvements and improving real estate operations Tallahassee is positioned for significant growth in the coming years, which has made it a unique acquisition opportunity for first-time buyers (Lakulesh, Inc.) – we believe they will have much success with this property,” says Amin.

“We are currently experiencing strong demand for budget and midscale hotels in Florida. We have observed that this segment has weathered the storm the best during the peak of Covid (along with extended stay hotels), and I believe that this has created a new allure for the property type – particularly in certain areas of Florida. We expect this trend to continue for the foreseeable future – particularly with people moving to Florida from across the country in record numbers. To add to that – with rising inflation, hotels are the perfect product type because of the ability to quickly adjust ADR and increase revenue,” says Hopper.

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