Fairfield Inn Titusville, FL

UNDER CONTRACT

• Fee simple interest in the institutionally owned 96-room Fairfield Inn & Suites Kennedy Space Center Titusville, Florida.
• Unencumbered by third-party management with an opportunity to retain the Fairfield Inn brand through a long-term relicense agreement with Marriott.
• Property is part of a larger institutional portfolio being auctioned in the August 14th event with Ten-X.
• Delivering exceptional in-place performance with a T12 RevPAR exceeding $100.
• Adjacent to the intersection of Interstate 95 & Cheney Highway (FL 50), with 70,000+ vehicles passing the location daily.
• Kennedy Space Center, one of 10 NASA field centers, is the region’s largest employer and hosts approximately 1.7 million visitors every year
• The property is part of a larger institutional portfolio being auctioned in the August 14th with Ten-X, including the 83-room Fairfield Inn & Suites Melbourne West/Palm Bay, Florida, offering buyers a chance to acquire multiple assets and benefit from operational synergies by owning two hotels in nearby submarkets
• Unencumbered by third-party management with an opportunity to retain the Fairfield Inn & Suites brand through a long-term relicense agreement with Marriott
• The property is located on Florida’s iconic Space Coast, home to Kennedy Space Center, Canaveral National Seashore, Port Canaveral, and Cocoa Beach. Kennedy Space Center has almost 250 partnership agreements and over 90 private-sector partners, including SpaceX, Blue Origin, and Lockheed Martin. Port Canaveral set a record with 6.8 million cruise passengers in FY 2023 and is projected to reach 7.3 million in FY 2024, making it the world’s busiest cruise port
• The population in Titusville, FL has been growing steadily in recent years due to the resurgence of its space industry, expansion in its aerospace industry, infrastructure improvements, high-quality of life, and a lower cost of living relative to other cities in the state