Excel Group, an Arlington, Va.-based private equity firm that owns, develops and invests in hotels, has acquired the Hampton Inn & Suites Coconut Creek and Residence Inn Fort Lauderdale Coconut Creek hotels in Broward County, Florida. Other terms and conditions were not disclosed.
The acquisitions of these properties are Excel’s first in south Florida in several years and are investments of Excel Fund I.
Opened in 2014 and 2019, respectively, the Hampton Inn and Residence Inn both have 105 guestrooms and over 1,000 square feet of meeting spaces, as well as outdoor pools, fitness centers and communal amenity areas. Both hotels are located in the vicinity of key demand drivers in Coconut Creek, including two major medical centers, significant corporate and industrial space, leading sports facilities, and other leisure assets, including the Seminole Casino with a 3,000-seat concert and entertainment venue. The Hampton Inn just completed a comprehensive renovation that incorporated all new guestroom and public area furnishings and design.
“We are excited to acquire the Hampton Inn and Residence Inn hotels in Coconut Creek, both of which are high-quality assets within top-performing select-service brands," Shoham Amin, founder and principal of Excel Group, said in a statement. “These two transactions reflect the attractive opportunity to acquire hospitality assets in the South Florida market, with its robust tourism, business and healthcare sectors.”