Wednesday, May 18, 2011
The hotel, at 1125 Airport Boulevard, is located less than a mile from Melbourne International Airport, three miles from Florida Institute of Technology, and just minutes from area beaches.
"Transactions involving ground leases are always a challenge, because most buyers are seeking fee simple assets,” explained Robert O’Leary, vice president of Sun Hospitality’s southeast region.
“In this instance, the buyer is a first-time hotelier who is already a successful entrepreneur in the Melbourne area." GB Holdings plan extensive renovations to the property in order to retain the franchise.
Media Contact: Karen Brand, VP Marketing & Communications / (203) 202-4549 / kbrand@TPGhotels.com