OMEGA HOTEL GROUP, led by CEO Bob Kumar, recently sold the 137-room Best Western Sugar Sands Inn & Suites in Destin, Florida, to an unnamed institutional investor. The hotel, near Destin’s white sand beaches, will now be repositioned as Spark by Hilton, according to Hunter Hotel Advisors.
“We had the privilege of representing both the seller and buyer on this transaction,” said Shamir Patel, Hunter’s senior vice president, who executed the deal. “Destin is one of the most sought-after markets in Florida, with an almost impossible barrier to entry. We are very excited to see what this new Spark by Hilton brand can do there.”
Omega Hotel has partnerships with Best Western, Choice Hotels International, and Intercontinental Hotel Group. Currently, they own five hotels in Alabama, four in Tennessee, and four in Florida, according to its website.
In September, Newbond Holdings, led by Neil Luthra, acquired Aloft Tampa Downtown in Florida, marking the company’s third downtown riverfront hotel investment in the city within 24 months.
