Kabani Hotel Group closes on the sale of the Holiday Inn Express & Suites Florida City for $13.2 million. Spearheaded by Ahmed Kabani and Suraj Dalal, this transaction was completed through a strictly confidential marketing process. The 105-room property sold for a price per key of $125,714, with a room revenue multiple of 6.33x and was negatively cash flowing during time of acquisition. Other terms and conditions were not disclosed.
"We were already familiar with this property, having successfully facilitated its sale in 2023 to the previous owner,” Ahmed Kabani, CEO and founder of Kabani Hotel Group, said in a statement. “Following the completion of renovations and the required PIP, we leveraged our market expertise and targeted outreach to carefully select a buyer who recognized the property’s potential.”
The Florida hospitality sector saw sustained investor interest throughout 2024, driven by increasing tourism numbers, population growth, and demand for well-branded, limited-service hotels. Despite ongoing economic shifts and financing challenges, assets like the Holiday Inn Express & Suites Florida City continue to attract institutional and private buyers seeking long-term value, according to the company.
“Our team was able to navigate the sale of a hotel through a strict, confidential, and targeted process,” added Suraj Dalal, partner at Kabani Hotel Group. “We identified the buyer within 15 days. Despite facing multiple headwinds such as limited capital market availability and high insurance premiums the deal was closed on time.”