Breaking News

OTO Development Acquires DoubleTree by Hilton Cocoa Beach front

OTO Advancement has added DoubleTree by Hilton Cocoa Seashore Oceanfront to its growing portfolio.

South Carolina-primarily based OTO Growth, which is aspect of The Johnson Team, obtained the DoubleTree by Hilton in Cocoa Seaside, Florida, from Pandey Lodge Group of New Zealand. The transaction — brokered by Paul Weimer, Christian Charre, Jennifer Jin and Andrew Pastorino, all of CBRE Hotels — closed on Thursday, September 9.

his is the sixth oceanfront residence OTO has bought due to the fact Q4 2018.

“We got our feet moist a couple years ago in Essential West, wherever we discovered the pleasurable — and issues — of functioning accommodations on the beach front,” says Corry Oakes, CEO of OTO Enhancement. That effort was followed by acquisitions in Marathon and St. Pete Beach, Florida Wrightsville Beach front, North Carolina and Myrtle Beach, South Carolina. “Our crew is intrigued by the opportunity at DoubleTree Cocoa Beach.”

Originally developed in 1987, DoubleTree Cocoa Seaside shut following Hurricane Irma in Fall 2017 it reopened in June of this 12 months immediately after going through an intensive, properly-executed renovation. On swap of keys, OTO will start a $3 million repositioning of the 150-home house, with strategies to change four smaller meeting spots into seven further visitor rooms assemble a new vacation resort-fashion pool entire with lazy river establish out the beach bar and refresh 8,000 square ft of conference/party place.

Latest F&B place will transition to Coconut Charlie’s Seaside Bar & Grill, an unique coastal notion originally launched at OTO’s Hilton Backyard garden Inn in St. Pete Seaside.

“As we welcome the DoubleTree staff into the OTO fold, we’re eager to merge our profits and functions methods with the hotel’s advantageous Room Coastline area,” Oakes suggests. “Demand drivers in Cocoa Seaside include things like room, navy, sports activities and cruise — not to mention the seashore itself. Proximity to Orlando is an additional moreover.”

Close by Cape Canaveral is the epicenter of the country’s growing room economic climate, with NASA, non-federal government house providers and privateers such as SpaceX and Blue Origin in its orbit. Patrick Air Force Foundation and Cape Canaveral Space Power Station use 15,000 military services and civilian personnel. The United States Specialty Sporting activities Alliance fields a variety of situations just about each week of the ordinary yr, producing far more than 100,000 lodge place nights. Port Canaveral is the world’s second-busiest cruise port.

DoubleTree by Hilton Cocoa Seashore Oceanfront is located at 2080 N. Atlantic Ave. in Cocoa Seaside, Florida.

About OTO Development

OTO Improvement, element of The Johnson Group, is an award-winning, rapidly-rising resort improvement and hospitality administration firm. Launched in 2004 and partnering with the Hilton, Hyatt and Marriott makes, OTO’s industry leadership situation is anchored by a portfolio of superb inns staffed by outstanding people today. The company at present owns and/or operates ~70 motels comprising close to 8,000 room keys. OTO’s remarkable development is centered on establishing new lodges in higher-barrier-to-entry markets paying for and repurposing present lodge homes and growing administration contracts with purchasers ranging from publicly-traded REITs to personal equity companies to high web really worth men and women. For more details, go to OTODevelopment.com.

General public Relations Manager – OTO Development
Mail email