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Hotel developers pleased with their investments

With hundreds of hotels already up and running in the area, one might wonder why anyone would invest in another hotel in Volusia County. Yet, that is exactly what the principals of St. Petersburg-based Oceanside One Ltd. have done. If initial indications are a barometer of their return on investment, the new Courtyard by Marriott at Daytona Beach International Airport looks like a winner.


The new Courtyard by Marriott

The property, a $9.2-million investment, is on the northeast corner of Daytona Beach International Airport property on Richard Petty Boulevard. It features 122 guest rooms. It also has 1,200 square feet of meeting space with five meeting rooms, two of which have a boardroom configuration.

"We opened in April, just after the special events season," said Mike Huston, general manager of the new property and a veteran of hotel management. "We were fortunate to be able to ramp up during a slow season so we had fine-tuned operations and completed staffing in time for the Dale Earnhardt Memorial Tribute Concert and the Pepsi 400." Huston knows that an airport hotel brings a different mix of guests than an oceanfront property. Yet the Courtyard's location is part of its appeal.

In the shadow of Daytona International Speedway, Embry-Riddle Aeronautical University and Daytona Beach International Airport, the property's occupancy is affected by all three. "We have aligned ourselves with the Daytona Beach Area Convention & Visitors Bureau, The Chamber and the Motel/Hotel Association of Volusia County," Huston pointed out. "We also are working with the new tennis complex, Tennis USA /Florida and we are looking to partner with neighboring properties including the Hampton Inn and Hilton Garden Inn." Richard Pazmino, who managed the Hampton Inn before accepting his new assignment as the General Manager of Hilton Garden Inn, concurs. "Cooperation is good for both properties. There are times when each of us needs to accommodate a guest or a group and is unable to do so due to inventory or other factors.”

Pazmino reports that the Hilton Garden Inn has enjoyed a good response from business travelers and the local business community. In addition to all the amenities appreciated by leisure travelers, the property has many features for business travelers and local business people, including 1,360 square feet of meeting space. Hampton Inn is expanding its meeting facilities to more than 2,200 square feet, expected to be complete by September. As for the return on investment, Oceanside One, Ltd. is pleased. "This is our first Marriott property and our first foray into Volusia County," said Ian Irwin, of Oceanside One Ltd.

The Courtyard by Marriott, Hilton Garden Inn and Hampton Inn create a synergy by being close to neighboring restaurants, DBIA, Embry-Riddle, Daytona International Speedway and the Volusia Mall. The location is filling a growing market niche.

 

 

Department of Economic Development
700 Catalina Drive, Suite 200
Daytona Beach, FL 32114
Telephone:
386-248-8048
FAX: 386 238-4761
Toll Free: 800-554-3801

Phil Ehlinger
Director
doed@volusia.org

 

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