he buyer was attracted by the property's revenue per room.
BPR Properties, represented by Hunter Hotel Advisors, sold Home2 Suites by Hilton Jacksonville Airport.
The sale price was $11.5 million, according to a deed recorded Aug. 6 with the Duval County Clerk of Courts.
The buyer is listed on the deed as 13475 Jacksonville Holdings LLC in Denver. The hotel is at 13475 Ranch Road.
The new owner is a “large private equity group focused on adding high RevPar assets to its growing select-service platform,” Hunter Hotel Advisors said Aug. 18 in a news release.
“RevPar” refers to revenue per available room, an indicator of a hotel market’s financial performance.
According to data from STR, a national hotel business research company, the revenue per available room for properties in North Jacksonville for the week ending Aug. 1 was up by 85.1% compared with the same week in 2020.
The revenue per available room for all hotels in Duval County for the same period was up 70.1%.
“The Home2 Suites Jacksonville Airport has exhibited tremendous RevPAR growth during the first half of 2021. As one of the newest Hilton products in the market, the Home2 Suites will be able to capitalize on its proximity to Jacksonville International Airport and Interstate 95,” said Mayank Patel, senior vice president at Hunter Hotel Advisors, in the release.
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