Marcus & Millichap Arranges Sale of 83-Room Red Roof Inn Hotel in Ocoee, FL

Jonathan S. Ruprai

OCOEE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Red Roof Inn Orlando West, a 83-room limited-service hotel located at 11241 West Colonial Drive in Ocoee, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The hotel traded for $4,300,000.

Dennis Hopper, associate, and Jonathan S. Ruprai, senior director of the firm’s National Hospitality Group, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller.

 The buyer was secured and represented by J. Dominic Vito, associate, in the Washington, D.C. office and Ahmed Kabani, associate director of the National Hospitality Group and in the firm’s Miami office. 

“We received a significant amount of interest from both local and out-of-state investors, with the ultimate buyer being an Orlando based hotelier. 

"This transaction is another success story resulting from Marcus & Millichap’s collaborative platform, and long standing relationships with investors throughout the country,” says Dennis Hopper.

Dennis Hopper

“The buyer has a long-term relationship with Marcus & Millichap and has owned hotels in the Orlando market for years. 

"As a local hotelier, the buyer remains very upbeat about the future prospects for greater Orlando.  As such, the buyer will renovate the property and utilize the upgraded rooms and management capabilities to capitalize on the strong upward trend in average rate for the market,” adds Ahmed Kabani.

With an industry leading hospitality team in more than 40 markets nationally, this marks the 86th hotel sold by Marcus & Millichap’s National Hospitality Group in 2015.

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700