MIAMI, Florida—Kabani Hotel Group announced the sale of the Holiday Inn Express & Suites Florida City for $13.2 million. Led by Ahmed Kabani and Suraj Dalal, the transaction was completed through a confidential marketing process.
The 105-room property sold for a price per key of $125,714, with a room revenue multiple of 6.33x and was negatively cash flowing during the time of acquisition.
“We were already familiar with this property, having successfully facilitated its sale in 2023 to the previous owner,” said Ahmed Kabani, CEO and founder, Kabani Hotel Group. “Following the completion of renovations and the required PIP, we leveraged our market expertise and targeted outreach to carefully select a buyer who recognized the property’s potential.”
The Florida hospitality sector saw sustained investor interest throughout 2024, driven by increasing tourism numbers, population growth, and demand for limited-service hotels. Despite ongoing economic shifts and financing challenges, assets like the Holiday Inn Express & Suites Florida City continue to attract institutional and private buyers.
“Our Team was able to navigate the sale of a hotel through a strict, confidential, and targeted process,” said Suraj Dalal, partner, Kabani Hotel Group. “We identified the buyer within 15 days. Despite facing multiple headwinds such as limited capital market availability and high insurance premiums, the deal was closed on time.”
With this closing, Kabani Hotel Group continues its momentum into 2025, marking its fifth closing of the year so far.
