Excel Group, a prominent private equity firm, has strategically amplified its presence in Florida’s thriving hospitality market through a significant acquisition of two high-profile hotels in Coconut Creek. This strategic move signals the firm’s renewed focus on the region, positioning itself at the forefront of the area’s economic expansion and catering to the surging demand for quality accommodations in this key Florida hub.
The acquisition, encompassing the Hampton Inn & Suites and Residence Inn Fort Lauderdale Coconut Creek, represents a combined investment of $21.17 million. This substantial outlay marks Excel Group’s impactful re-entry into the South Florida landscape after a hiatus, underscoring its profound confidence in the region’s burgeoning appeal, fueled by robust tourism, increasing business activities, and a flourishing healthcare industry, making it a prime target for hotel investment.
Situated strategically along State Road 7, the newly acquired properties offer a combined total of 210 rooms, with each hotel providing 105 rooms tailored for both business and leisure travelers. These well-appointed accommodations boast over 1,000 square feet of versatile meeting space, inviting outdoor swimming pools, state-of-the-art fitness centers, and various communal venues designed to ensure a comfortable and streamlined experience for all guests.
Coconut Creek, nestled in central Broward County, is rapidly emerging as a dynamic hub, attracting diverse visitors with its array of popular destinations. Notable local attractions include the vibrant Seminole Casino Coconut Creek, the essential HCA Florida Northwest Hospital, and the expansive Mainstreet at Coconut Creek development, all contributing to the area’s strong tourism development and economic vitality.
Founded in 2011, Excel Group stands as a respected hotel investment and development company with a proven track record of owning and operating hotel assets across the United States. With over $1 billion in hotel real estate acquisitions, the firm specializes in investing in select-service hotels, consistently prioritizing properties that offer the highest quality, convenience, and long-term value in robust markets.
This latest acquisition in Coconut Creek seamlessly aligns with Excel Group’s disciplined, cycle-appropriate investment strategy. By capitalizing on the area’s rapidly expanding tourism and business base, the firm leverages Coconut Creek’s sustained growth and strong healthcare and entertainment infrastructure, solidifying its position as an attractive locale for long-term hotel investment and strategic expansion.
The future outlook for Coconut Creek’s hospitality sector appears exceptionally promising, bolstered by ongoing developments like the 200-acre Mainstreet at Coconut Creek mixed-use project. This development is set to further enhance the area’s appeal, generating new retail, dining, and entertainment opportunities, which will inevitably drive increased demand for reputable hotel accommodations, cementing the value of Excel Group’s timely investment.
In conclusion, Excel Group’s entry into Coconut Creek through the acquisition of the Hampton Inn & Suites and Residence Inn exemplifies a strategic and timely move into a high-growth market. This investment not only expands the firm’s significant presence in Florida but also reinforces its leadership within the competitive hospitality investment industry, promising substantial long-term returns as the region continues its upward economic trajectory.
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