OTO Enhancement Acquires DoubleTree by Hilton Cocoa Seaside

OTO Improvement has added DoubleTree by Hilton Cocoa Beach front Oceanfront to its increasing portfolio.

South Carolina-based OTO Enhancement, which is element of The Johnson Team, obtained the DoubleTree by Hilton in Cocoa Beach front, Florida, from Pandey Hotel Group of New Zealand. The transaction — brokered by Paul Weimer, Christian Charre, Jennifer Jin and Andrew Pastorino, all of CBRE Hotels — closed on Thursday, September 9.

his is the sixth oceanfront home OTO has bought since Q4 2018.

“We bought our feet soaked a couple of decades ago in Key West, wherever we found the enjoyable — and challenges — of working accommodations on the beach front,” states Corry Oakes, CEO of OTO Enhancement. That effort and hard work was adopted by acquisitions in Marathon and St. Pete Seashore, Florida Wrightsville Seaside, North Carolina and Myrtle Beach, South Carolina. “Our team is intrigued by the possible at DoubleTree Cocoa Beach.”

Initially constructed in 1987, DoubleTree Cocoa Beach front shut subsequent Hurricane Irma in Fall 2017 it reopened in June of this year soon after going through an intensive, well-executed renovation. Upon swap of keys, OTO will start a $3 million repositioning of the 150-space house, with programs to transform 4 tiny assembly places into seven more visitor rooms assemble a new vacation resort-style pool entire with lazy river make out the beach front bar and refresh 8,000 square feet of conference/function room.

Current F&B house will changeover to Coconut Charlie’s Beach Bar & Grill, an authentic coastal notion in the beginning released at OTO’s Hilton Backyard Inn in St. Pete Beach.

“As we welcome the DoubleTree staff members into the OTO fold, we’re eager to merge our sales and operations procedures with the hotel’s beneficial Room Coast area,” Oakes says. “Demand motorists in Cocoa Beach front consist of house, armed service, sporting activities and cruise — not to point out the seaside by itself. Proximity to Orlando is an more additionally.”

Nearby Cape Canaveral is the epicenter of the country’s developing place financial state, with NASA, non-authorities place firms and privateers these types of as SpaceX and Blue Origin in its orbit. Patrick Air Drive Foundation and Cape Canaveral Place Drive Station utilize 15,000 armed service and civilian personnel. The United States Specialty Sporting activities Alliance fields a variety of events nearly just about every 7 days of the common calendar year, producing a lot more than 100,000 lodge space nights. Port Canaveral is the world’s second-busiest cruise port.

DoubleTree by Hilton Cocoa Seashore Oceanfront is situated at 2080 N. Atlantic Ave. in Cocoa Seashore, Florida.

About OTO Development

OTO Development, part of The Johnson Team, is an award-profitable, rapid-rising hotel growth and hospitality administration enterprise. Established in 2004 and partnering with the Hilton, Hyatt and Marriott brand names, OTO’s industry management situation is anchored by a portfolio of exceptional lodges staffed by excellent people today. The business currently owns and/or operates ~70 accommodations comprising close to 8,000 space keys. OTO’s spectacular development is centered on creating new accommodations in high-barrier-to-entry markets getting and repurposing present lodge homes and increasing administration contracts with shoppers ranging from publicly-traded REITs to non-public fairness companies to high internet well worth men and women. For much more information and facts, go to OTODevelopment.com.

General public Relations Manager – OTO Growth
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