ASAP Holdings is a global investment management company specializing in acquisitions advisory and asset management dedicated to maximizing value for a diversified equity partners base, including corporations, institutions and high-net-worth individuals.
About this Property
ASAP International Hotel LLC (the “Company”) is seeking Investors for the acquisition and renovation of the fee-simple 212-room full-service the Shores Resort and Spa hotel located at 2637 S Atlantic Ave Daytona Beach Shores, FL 32118 (“the Hotel” or “Resort”).
The 212-room Shores Resort and Spa is located directly on the sands of Florida’s Atlantic Coast. Ideally situated on the ocean side of A1A, the Resort is competitively-positioned as the sole luxury hotel in Daytona Beach. The Resort is comprised of a host of high-end resort-style amenities including a heated outdoor pool, recently renovated poolside suites, a beachfront fire pit, a full-service spa, and full-service dining experience, complimented by 20,000 square feet of meeting space.
- Standalone Luxury Property: The lodging market in Daytona Beach is comprised of predominantly select-service, independent, and budget hotels, allowing the Resort to hold a significant rate and RevPAR premium over the Daytona Beach market by catering to a unique target guest.
- Irreplaceable Beachfront Location: The Resort is situated directly oceanfront spanning over 400 feet of direct frontage. The majority of the guestrooms have uninterrupted views of the Atlantic Ocean.
- Strong Financial Performance: The Resort has experienced impressive financial performance with NOI growth of 266% from 2009 through 2015.
- Daytona Beach International Speedway Redevelopment: The Daytona Beach International Speedway recently completed a $400 million development project that will deliver approximately 101,000 permanent seats, three times the number of concession stands, and over 60 luxury suites with trackside views.
- Tremendous RevPAR Growth: In 2015, RevPAR (revenue per available room) in the market defined as Daytona Beach, FL by Smith Travel Research (“STR”) grew 13.4% year-over-year as a result of 8.8% occupancy growth and 4.3% rate growth.