Fort Walton Beach
Hodges Ward Elliott (“HWE”) is pleased to present the opportunity to acquire the 109-room Residence Inn Fort Walton Beach (“Property” or “Hotel”), a waterfront, extended-stay asset located within an established yet rapidly expanding coastal market. Situated directly on the Santa Rose Sound, close to downtown Fort Walton Beach and Okaloosa Island, the Hotel is strategically positioned to capture leisure and corporate demand, offering seamless access to the Emerald Coast’s beaches, Destin-Fort Walton Beach Convention Center, and Fort Walton Beach's business parks. Fort Walton Beach combines the stability of a proven Gulf Coast destination with continued demographic and economic momentum, evidenced by approximately 21% population growth over the past decade, along with accelerating expansion across key feeder markets including Atlanta, Dallas, Houston, and Nashville. Opening in 2021, the Property represents a compelling opportunity to acquire a high-quality Marriott-branded asset with strong operating fundamentals in a mature, high-growth market.
| Address: | Fort Walton Beach, FL 32548 |
| Year Opened: | 2021 |
| Keys: | 109 |
| Stories: | 5 |
| F&B Outlets: | Complimentary Breakfast |
| MEETING SPACE: | 405 SF |
| AMENITIES: |
|
| INTEREST CONVEYED: | Fee Simple |
| MANAGEMENT: | Unencumbered |
INVESTMENT HIGHLIGHTS
EXCEPTIONAL LOCATION SURROUNDED BY LEISURE AND BUSINESS DEMAND
The Residence Inn offers prime access to coastal leisure activities while remaining convenient to one of the region’s primary meeting destinations. Situated on the Santa Rosa Sound, the Property features picturesque waterfront views and immediate access to the pristine white-sand beaches of Florida’s Emerald Coast. Nearby attractions include the Boardwalk at Okaloosa Island, Princess Beach, and Gulfarium Marine Adventure Park. For business and group demand, the Hotel is located near the 32,000-square-foot Destin–Fort Walton Beach Convention Center as well as the Fort Walton Beach Commerce and Technology Park.
Destin-Fort Walton Beach Convention Center
HCA Florida Fort Walton-Destin Hospital
Population and Tourism Magnet
The Fort Walton Beach MSA has experienced strong growth, with the population increasing approximately 21% over the past decade, reinforcing the market’s expanding economic base. This local growth has been amplified by rapid expansion in Fort Walton Beach’s primary feeder markets, Atlanta, Dallas, Houston, and Nashville, which all rank among the top 20 fastest-growing U.S. metropolitan areas since 2020. The combination of accelerating feeder-market growth and rising migration has translated directly into strong tourism performance, with the Fort Walton Beach area attracting approximately eight million visitors who generate an estimated $750 million in visitor spending each year. This demand strength is further evidenced by sustained increases in passenger volumes at Destin-Fort Walton Beach Airport, which has grown by ~12% annually since 2016.
The Boardwalk at Okaloosa Island
NEW VINTAGE WITH STRONG IN-PLACE CASH FLOW
Opening in 2021, the Residence Inn Fort Walton Beach is one of the newest and strongest performing hotels in the Fort Walton market, creating a distinct advantage over its competitors. The Residence Inn represents an opportunity to acquire one of the market’s premier extended-stay hotels.
CLEAN INVESTMENT OPPORTUNITY
The non-union, fee-simple interest in the Residence Inn is being offered free and clear of existing management and financing, affording new ownership maximum optionality in the future operation and capitalization of the Hotel.