DAYTONA, Fla.—Waramaug LS Hotels, a private investment group, announced today they have purchased the 122-room, Courtyard by Marriott Daytona Beach Speedway/Airport hotel.
Originally built in 2003, the Courtyard Daytona was fully upgraded for roughly $1.2 million in June 2011 and features new Courtyard Refreshing Business Lobby amenities including The Market, Go Board, Media Pods, and The Bistro. The hotel sits adjacent to the Daytona Beach International Airport and is also within walking distance of the Daytona International Speedway. With close proximity to the main strip of beach, the property is among the most recently constructed hotels within its competitive set.
“The Marriott brand carries a competitive advantage over other hotels in the area due to its premier standing in the industry. This particular hotel has been driving occupancy and market rates over its competitors, resulting in strong levels of RevPAR. If you couple the hotel’s robust performance with the fact that the Daytona region is experiencing a growth in tourism that exceeds pre-recession visitation, one can easily see the value of this property to our portfolio,” said Craig Nussbaum, Vice President of Waramaug LS Hotels. “The property occupies a central location next to the Daytona Beach International Airport within an area that has a population of nearly a half a million people and attracts approximately eight million annual visitors.”
The property sits on 4.34 acres and includes 75 king rooms, 39 double queen rooms, 3 double queen suites, 1 king suite, and 4 king spas. It features a total of 1,700 square feet of meeting space throughout four meeting rooms. The hotel also offers a refreshing outdoor swimming pool, whirlpool, fitness center, business center, and outdoor seating and grilling area.
The property will continue to be under the management of Marriott International.
