Jay Jagannath Hospitality has purchased the 117-room Quality Inn Kennedy Space Center by Choice Hotels from Frontier Hospitality for $7.4 million. Dennis S. Hopper, managing principal of Tampa, Fla.-based hotel brokerage and advisory firm DSH Hotel Advisors, and senior investment associate Dylan N. Amin arranged the sale of the recently renovated 117-room Titusville, Fla., hotel.
DSH Hotel Advisors held the exclusive listing with the seller, generating more than 175 signed confidentiality agreements from qualified buyers and receiving 14 offers from investors throughout the country and internationally. “Although interest rates have been on the rise, we are seeing more demand than ever for properties in Florida. With the significant growth in Brevard County, and the cruise port seeing record numbers, we were able to achieve a healthy market-price with plenty of upside remaining for the new owner," Amin said.
The Quality Inn Kennedy Space Center is located directly off Interstate 95 and serves as a hospitality hub for the space center area and beyond to the Cape Canaveral cruise terminal. Recent improvements include an updated lobby, newly painted exterior, new signage, guest mattresses and linens and a resurfaced parking lot.