Waramaug makes Daytona Beach acquisition

Private investment group Waramaug LS Hotels has purchased the 122-room Courtyard by Marriott Daytona Beach Speedway/Airport hotel. Originally built in 2003, the hotel was last renovated in 2011 for $1.2 million. The purchase price was not disclosed.

The hotel sits adjacent to the Daytona Beach International Airport and is also within walking distance of the world-renowned 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 and is expected to continue to outpace its counterparts with regards to RevPAR.

“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, VP 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.”

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.


Read more on