608 S Lakeview Rd
Lake Placid, FL 33852
Holiday Inn Express & Suites · Hospitality Property For Sale · 50,712 SF

The Holiday Inn Express & Suites is a four-story, 2007 concrete block constructed, select-service hotel located in Lake Placid, Florida. The hotel is situated in the heart of Lake Placid, just off U.S. Route 27 which is a north-south United States Highway. It runs 481 miles from the South Florida Metropolitan Area northwest to the Tallahassee Metropolitan Statistical Area. The Holiday Inn Express & Suites has won five Torchbearer Awards (2010, 2011, 2012, 2015 and 2016) – the Torchbearer Award is IHG’s highest award for guest service quality. The hotel was affected by Hurricane Irma in September of 2017, which resulted in minor water damage and consequently shut down rooms during restoration/renovations. The following number of rooms were down after Irma: September/October: 61, which includes all the rooms facing East, plus an additional 5-10 per floor; November: 45-50 (second and third floor); December: 40 (partial third and all of fourth floor); and January: 25 (partial fourth and all of first floor). There was approximately $1,600,000 spent on restoration/ renovations post Irma, which included some Formula Blue PIP items such as repainting and retexturing the walls throughout the hotel, repainting and retexturing the ceilings in the rooms, new window treatments, and carpeting throughout all rooms and corridors. The crown molding and chair rail trim in corridors were removed, as well as the jacuzzi tubs and associated soffits. The breakfast area, lobby and conference room have all been repainted and the carpet has been replaced. Other improvements include new pilon sign, three new water heaters, replacement of approximately 30 PTACs, and all windows have been recaulked. Lake Placid is known as the Caladium of the World. Additionally, it has 29 named fresh water lakes made up of approximately 38,692 acres of surface water, which includes Lake Istokpoga, Florida’s 5th largest lake at 27,692 acres. Year-round activities take place on the lakes such as boating, fishing, watersports, bird/wildlife watching, kayaking and airboat rides. The town is also known for its hunting, local winery (Henscratch Farms Vineyard), berry picking, Toby’s Clown School, H.L. Bishop Park and 40 golf courses. Lake Placid is home to several major events such as the annual Caladium festival (the Holiday Inn Express & Suites – Lake Placid has been the host property for this event since inception), which is held at the end of July, the Henscratch Farms Vineyard & Winery hosts an annual Grape Stomp in August; several fishing tournaments, two fairs and several other events, all which supply the demand for overnight accommodations. Additionally, the Sebring International Speedway is located 14.6 miles away, which brings over 100,000 guests annually; and Gatorama is located 20 miles away, which is the world’s largest alligator and crocodile farm. The Holiday Inn Express & Suites offers a new investor the opportunity to acquire a highly desirable IHG branded hotel significantly below replacement cost, while capitalizing on an upside opportunity as the current ownership is absentee. Room Break Down: King Jacuzzi Suite 1 ADA King 1 ADA Suite 3 Standard Double Queen 18 ADA Double 1 Studio Suite 31 Two-Room Suite 3 Standard King 2