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RREAF and Innisfree Hotels Dig Amelia Island, Buy Two Beach Properties
RREAF Holdings, LLC, and Innisfree Hotels have acquired Ocean Coast Hotel and Amelia Hotel on Fernandina Beach in Amelia Island, FL. Innisfree Hotels will manage the properties.
The properties sit adjacent to each across the street from the beach and a few miles from Fernandina’s historic downtown.
According to RREAF, the market is positioned to capture pent-up travel demand of millions of Americans who live within a one-day drive of the Atlantic coast.
“In the past year, we have more than doubled our hotel portfolio in our drive-to leisure division increasing our beachfront hotel properties to nine with more than 1,100 rooms,” said Kip Sowden, CEO of RREAF Holdings. “We are opportunistic buyers and believe now is a good time to buy and develop as consumers are eager to get out and travel post-COVID. Affordable family friendly vacation spots, such as Amelia Island, should continue to outpace other sectors in the hospitality space.”
- ◦Sale/Acquisition
