For Sale Watercolor Inn for sale

[coondog]

CBRE marketing hotel for sale.

 

[Dawn]

Details please.

 

[Matt J]

Where? It's not listed.

 

[coondog]

Package will be out shortly. Was brought up at a hotel investment conference last week. Hotel has historically lost money, needs significant room and common area upgrades as it is worn and tired, and will likely be offered for sale encumbered with a management agreement from St. Joe, which will likely chill the market based on their historic inability to operate it profitably. Looks like the want to avoid having to fund the capx on their own, while maintaining a hotel management revenue stream.

 

[coondog]

Watercolor Inn apparently being offered for sale without being encumbered by the existing management. In addition, they are apparently marketing their Vacation Rental Business for sale, as well as the Management Agreement for The Pearl.