A&R Group, a hotel development and investment firm based in Gulf Shores, Ala., acquires the 100-key Fairfield Inn & Suites by Marriott in Destin, Fla. for $18 million. Other terms and conditions were not disclosed.
Situated along the high-traffic Emerald Coast Parkway, the Fairfield Inn & Suites Destin sits in the heart of one of Florida’s most visited leisure markets. Surrounded by major attractions including Henderson Beach State Park, Big Kahuna’s Water & Adventure Park, and the Destin Commons retail district, the hotel is well-positioned for long-term performance in a demand-rich market.
“This acquisition aligns perfectly with our long-term strategy of investing in high-barrier-to-entry markets with strong year-round tourism and upside potential,” Zach Hoyt, president of development at A&R Group, said in a statement. “Destin is one of the Gulf Coast’s premier destinations, and this hotel offers both stable in-place income and meaningful value-add opportunity.”
The company plans to initiate a comprehensive renovation of the property beginning in the fourth quarter, with completion expected by mid-2026. The capital improvement plan includes upgrades to guestrooms, public spaces and exterior areas to align the hotel with Marriott’s latest brand standards.
Backed by a 24-year Marriott franchise agreement, the hotel will continue to operate under the Fairfield Inn & Suites flag.
With this acquisition, A&R Group now owns and operates over 25 hotels across six states, representing brands from Marriott, Hilton and IHG.
“Our firm is focused on creating long-term value for our partners by combining operational excellence with disciplined investment strategy,” added Ken Patel, CEO of A&R Group. “We’re excited to bring that philosophy to the Florida Panhandle.”