Regency Miami Airport - By Sonesta

JLL's Hotels & Hospitality Group is acting as the sole and exclusive agent for the sale of the fee simple interest in the Regency Hotel Miami Airport by Sonesta. The hotel is a 176-room full-service property located centrally in the Miami Airport market, just a five-minute drive from the airport and other key transportation hubs. It enjoys a strategic location as one of the closest hotels to Miami International Airport, making it an ideal choice for airport passengers, cruise port visitors, tourists, and professionals working in Miami's largest office submarket. The investment opportunity in the Regency Hotel offers ample repositioning and development potential. It is unencumbered by brand and management and occupies only half of the 3.8-acre fee-simple lot, allowing for the future development of additional hotels, office space, or apartments. Despite the challenges posed by the pandemic, the Regency Hotel has rapidly recovered, achieving a 47% higher 2024 February A/F RevPAR compared to the pre-pandemic peak. This growth is supported by favorable submarket lodging fundamentals and a recent comprehensive $2.7 million renovation completed in October 2023. With its exceptional positioning in a strong and stable airport and office-driven market, along with limited competitive supply pipeline, the Regency Hotel represents a remarkable opportunity to acquire a fully unencumbered asset.