DoveHill Capital Management has acquired a fee simple interest in DoubleTree branded property in Florida, US, for an undisclosed amount.

With acquisition of DoubleTree Deerfield Beach-Boca Raton, DoveHill now owns a total of 15 properties across North America.

The newly purchased hotel will be operated by The Wurzak Hotel Group, which is DoveHill’s associated management company, under a franchise agreement with Hilton.

DoveHill noted that since 2015, the hotel has benefitted from nearly $15m, which is approximately $68000 per key, in capital improvements.  

Besides, the company is further planning to provide additional capital for property enhancement.

This investment will focus on revamping the hotel’s public areas and adding a new bar next to the upgraded pool.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

DoveHill Capital Management CEO Jake Wurzak said: “This acquisition marks our 8th investment since 2020 and we are extremely excited to add our fourth South Florida property to our portfolio preeminent portfolio of leading full service and lifestyle oriented hotels.

“The Hotel was acquired at favourable entry point at a discount to recently consummated transactions in the market.

“We plan to upgrade hotel’s management and engage in capital projects to enhance guest experience including the pool, food and beverage outlets and fitness centre.

“The Boca Raton submarket is an incredibly high barrier to entry market with demand tailwinds which I believe will only strengthen.”

DoubleTree Deerfield Beach-Boca Raton, according to DoveHill, is well-positioned to benefit from the South Florida’s economic resilience.

Located ten-minute away from the Atlantic Ocean, the 221-key property is 25-minute away from Palm Beach and Fort Lauderdale International airports.

Furthermore, DoveHill will also explore different development opportunities to utilise the vacant area of the 6.2-acre site.