Key International Snags Northwest FL Hotel
- Jan 15, 2018
Key International has completed the acquisition of Hampton Inn & Suites Destin, a 130-key hotel in the coastline city of Destin, Fla. The company purchased the asset from McNeill Hotel Co. in a $31.5 million deal, according to county records. The seller will continue to provide management services for the property.
Florida’s Emerald Coast
Located at 1625 Highway 98 East, the hotel was completed in 1995 and underwent extensive renovations in 2014. The $12 million modernization program maintained only the footprint of the original property. Upgraded amenities include a resort-style pool, multiple outdoor grilling stations, fire pits, a fitness facility and business center. The hotel’s 130 guestrooms include 43 studio suites and guests have access to 500 square feet of meeting and social event space.
“Destin is a treasured beach town that sees tens of thousands of visitors during spring and summer peak seasons and we are excited to have a presence in this lively city,” said Diego Ardid, co-president of Key International, in a prepared statement.
Situated directly across from the Gulf of Mexico, the property is near several waterfront shops, dining and entertainment venues. Local family attractions include the Destin Harbor Boardwalk, Track Family Recreation Center and Big Kahuna’s Water and Adventure Park.
In July 2017, Key International topped off phase I of construction of the Embassy Suites by Hilton St. Augustine Beach Oceanfront Resort. The project is slated for delivery in the first quarter of 2018.
Images courtesy of Key International