Hollywood, Florida, is an attractive destination for investors seeking to capitalize on the city's growing hospitality industry. With 14 hotels for sale, Hollywood offers a diverse range of investment opportunities, from boutique hotels to large resorts. Hotels in Hollywood can represent a lucrative investment, providing a steady stream of revenue through room bookings, food and beverage sales, and other amenities. The city's strategic location, with its 5 to 6 miles of Atlantic Ocean beach, makes it an ideal spot for tourists and business travelers alike. Additionally, Hollywood's infrastructure, including Fort Lauderdale-Hollywood International Airport and Tri-Rail stations, provides easy access to the city, making it an attractive destination for visitors. The city's educational institutions, such as Broward College and Nova Southeastern University, also contribute to its appeal, attracting students and professionals from around the world. With its tropical rainforest climate, Hollywood is a great place to do business and travel, with popular attractions like the Art and Culture Center of Hollywood and the Seminole Tribe's Okalee Indian Village.
Hollywood's hotels offer a unique blend of amenities, infrastructure, and location, making them an attractive investment opportunity. The city's hotels are surrounded by a range of amenities, including restaurants, shops, and entertainment venues, providing guests with a comprehensive experience. In addition to hotels, Hollywood is also home to a range of other property types, including restaurants, apartment buildings, and shopping centers. For example, the city's restaurants, like those found in the Downtown Hollywood area, offer a diverse range of cuisines, from fine dining to casual eats. Apartment buildings, such as those found in the Lakes District, provide residents with a peaceful and scenic environment, complete with lakes and parks. Shopping centers, like the ones found in Hollywood Beach, offer a range of retail options, from boutiques to big-box stores. With its diverse range of property types and amenities, Hollywood is an attractive destination for investors and visitors alike.
What factors should I consider when buying a hotel in Hollywood?
When considering buying a hotel in Hollywood, there are several key factors to take into account, including:
- The current state of the hotel market in Hollywood, with 14 available listings, an average price per square foot of $690 USD, and an average size of 11,195 square feet.
- The local economy, which is driven by industries such as tourism, manufacturing, and watchmaking, and is home to major corporations like HEICO and the Invicta Watch Group.
- The city's infrastructure, including Fort Lauderdale-Hollywood International Airport, Broward County Transit bus routes, and Tri-Rail stations, which provide connections to other major areas and support the tourism industry.
It's also important to consider the average cap rate of 8.53% and the largest available property size of 67,187 square feet. Additionally, researching the local amenities, such as Hollywood Memorial Hospital, Topeekeegee Yugnee Park, and the Art and Culture Center of Hollywood, can provide valuable insights into the area's desirability and potential for growth. For more information on financing options, consider exploring CRE loans, also known as commercial real estate loans, as outlined in our article at https://www.loopnet.com/cre-explained/finance/cre-loans/.
How is the value of a hotel for sale typically calculated?
In Hollywood, Florida, where there are currently 14 hotels for sale, the value of a hotel is typically calculated through a CRE appraisal, which takes into account factors such as the property's income, expenses, and market value. To learn more about the CRE appraisal process, check out our article at CRE appraisals, which provides an in-depth look at how appraisers determine the value of commercial properties like hotels.
