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| Fairfield Inn & Suites by Marriott, Ocoee, FL |
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| Jonathan Ruprai |
OCOEE, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, has arranged the sale of an 80-room Fairfield Inn
& Suites by Marriott in Ocoee, Fla. The
terms of the sale were not released.
Jonathan S. Ruprai, senior director of the firm’s National Hospitality Group, and Dennis Hopper, associate, both in
Marcus & Millichap’s Tampa office, had the exclusive listing to market the
property on behalf of the seller. The buyer was sourced by Ruprai and Hopper.
“After completing a
thorough renovation in 2013, the seller converted the hotel from a Courtyard to
a Fairfield Inn & Suites,” says Hopper. “The repositioning allowed the
hotel to increase its occupancy, which resulted in a significant increase in
revenue.”
“The buyer plans on
further growing the recent uptick in RevPAR by plugging in their management
team and implementing a strategic business plan,” adds Ruprai.
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| Dennis Hopper |
“This
acquisition was our first transaction with the buyer and we were extremely
pleased with their ability to work diligently and move quickly, which
ultimately led to a smooth closing.”
With an industry-leading
hospitality team in more than 40 markets nationally, this marks the 107th hotel
sold by Marcus & Millichap’s National Hospitality Group in 2015.
For a complete copy of the company’s news release,
please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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