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 Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.
Read more on

Suggested Articles

The holding company believes MGM's online gaming business will grow—but was also drawn to the entertainment giant's hospitality sector.

The REIT said that it does not expect to see a meaningful increase in demand for its portfolio until there are COVID-19 medical solutions in place.

The LW Hospitality Advisors "Q2 2020 Select Major U.S. Hotel Sales Survey" highlights six transactions across the country.