Waramaug LS Hotels Purchases Florida's 122-room Courtyard by Marriott Daytona Beach Speedway/Airport
Daytona, FL - October 3, 2014 - Waramaug LS Hotels, a private investment group, is pleased to announce today they have purchased the 122-room, Courtyard by Marriott Daytona Beach Speedway/Airport hotel.
Originally built in 2003, the Courtyard Daytona was fully upgraded for roughly $1.2 million in June 2011 and features new attractive Courtyard Refreshing Business Lobby amenities including The Market, Go Board, Media Pods and The Bistro. The hotel sits adjacent to the Daytona Beach International Airport and is also within walking distance of the world-renowned Daytona International Speedway. With close proximity to the main strip of beach, the property is among the most recently constructed hotels within its competitive set and is expected to continue to outpace its counterparts with regards to RevPAR.
"The Marriott brand carries a competitive advantage over other hotels in the area due to its premier standing in the industry. This particular hotel has been driving occupancy and market rates over its competitors, resulting in strong levels of RevPAR. If you couple the hotel's robust performance with the fact that the Daytona region is experiencing a growth in tourism that exceeds pre-recession visitation, one can easily see the value of this property to our portfolio," said Craig Nussbaum, Vice President of Waramaug LS Hotels. "The property occupies a central location next to the Daytona Beach International Airport within an area that has a population of nearly a half a million people and attracts approximately eight million annual visitors."
The property sits on 4.34 acres and includes 75 king rooms, 39 double queen rooms, 3 double queen suites, 1 king suite and 4 king spas. It also features a total of 1,700 square feet of meeting space throughout four meeting rooms. The hotel also offers a refreshing outdoor swimming pool, whirlpool, fitness center, business center and outdoor seating and grilling area.
The property will continue to be under the management of Marriott International.
About Waramaug LS Hotels
Waramaug LS Hotels, LLC, based in Boca Raton, FL is a privately held investment group formed in 2013 by Paul Nussbaum, Paul Stern and another senior hotel professional. Waramaug LS Hotels focuses on acquiring legacy branded select service hotels in strong secondary and tertiary markets throughout the United States.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
