NEW OFFERING
ASAP International Hotel LLC (the “Company”) is seeking Investors for a total of $20,000,000 for the acquisition and renovation of the fee-simple 212-room full-service the Shores Resort and Spa hotel located at 2637 S Atlantic Ave Daytona Beach Shores, FL 32118 (“the Hotel” or “Resort”).
The 212-room Shores Resort and Spa is located directly on the sands of Florida’s Atlantic Coast. Ideally situated on the ocean side of A1A, the Resort is competitively-positioned as the sole luxury hotel in Daytona Beach. The Resort is comprised of a host of high-end resort-style amenities including a heated outdoor pool, recently renovated poolside suites, a beachfront fire pit, a full-service spa, and full-service dining experience, complimented by 20,000 square feet of meeting space.
Offering Key Points
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Targeted net return to investors is 23.7% annually.
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8% preferred return per annum with quarterly distributions.
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The Company budgets a $1,500,000 renovation of the hotel after acquisition.
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ASAP is a highly qualified Sponsor with extensive experience within this market. Since inception in 2010, ASAP has acquired 27 hotels with a total acquisition value of over $1B. ASAP’s investment strategy has allowed them to ensure their equity partners a regular 8% return and overall returns of 30% per year.
INVESTMENT HIGHLIGHT
Standalone Luxury Property: The lodging market in Daytona Beach is comprised of predominantly select-service, independent, and budget hotels, allowing the Resort to hold a significant rate and RevPAR premium over the Daytona Beach market by catering to a unique target guest. With more meeting space per key than any other hotel in the area, the Resort attracts strong group business as well as corporate travelers.
Irreplaceable Beachfront Location: The Resort is situated directly oceanfront spanning over 400 feet of direct frontage. The majority of the guest rooms have uninterrupted views of the Atlantic Ocean.
Strong Financial Performance: The Resort has experienced impressive financial performance with NOI growth of 266% from 2009 through 2015. Year-end 2015 NOI remained strong even considering the speedway was under renovation during the 2015 race season.
Daytona Beach International Speedway Redevelopment: The Daytona Beach International Speedway recently completed a $400 million development project that will delivered approximately 101,000 permanent seats, three times the number of concession stands, and over 60 luxury suites with trackside views. The redevelopment was completed in early February, just in time for the 2016 Daytona 500 race.
Convention Center : The Ocean Center, Volusia County’s trophy convention center, completed a 164,000 square foot, $82 million expansion in 2009, making it one of the largest in Florida and allowing it to host a record 117 events in 2015.
Tremendous RevPAR Growth: In 2015, RevPAR in the market defined as Daytona Beach, FL by Smith Travel Research (“STR”) grew 13.4% year-over-year as a result of 8.8% occupancy growth and 4.3% rate growth.
Daytona Beach, FL
It is a city on Florida’s Atlantic coast. It’s known for Daytona International Speedway, which hosts February’s iconic Daytona 500 NASCAR race. The beach has hard-packed white sand where driving is permitted in designated areas. Near the boardwalk’s rides and arcades, Daytona Beach Bandshell stages free summer concerts. Steps from the beach, Daytona Lagoon water park offers go-karts, laser tag and waterslides.
Documents
A full Private Placement Memorandum (PPM) summarizing ASAP Shores Resort Daytona, LLC. is available upon request for a complete discussion regarding these and other aspects of this investment offering.
Available to Accredited Investors:
- View and print the offering PPM, Subscription Agreement, LLC Operating Agreement, Executive Summary, Investor OM and Term Sheet.
- View and print the Detailed Financial Information and Projections
- Access all of the important documents for this offering in one place
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