Daytona Beach Resort & Conference Center is an interesting condo-hotel. Sort of unique.
It is definitely one of the nicest. On a par with The Plaza Resort & Spa. What is interesting – the fact that it was a very long conversion, as they still have about 60 unsold units. Again, The Plaza Resort & Spa comes to mind, as they also have no sold 100 units. Well, Plaza owners at that time did not want to sell.
I am not sure the owners of Daytona Beach Resort & Conference Center did not want to sell, but they still have a good chunk of unsold units there.
I do not know why the owners of the Hotel decided to convert this resort to a condo-hotel. Probably, it was because selling rooms one by one seem to be more profitable at that time.
It did not seem to make a lot of sense because of the amenities of the resort. Their convention space makes little sense for any condo-hotel. After all, Daytona condo-hotels are all about must have minimum of amenities to control costs, and convention space is unlike a “must have” for a condo-hotel.
As well as 3 pools. Ocean Walk with 600 rooms has 3 pools, but a 322-room Daytona Beach Resort & Conference Center does not seem to be in need of 3 pools. Every unused or underused amenity is an extra expense.
The Plaza added convention and meeting space when they redesigned the resort in 2005, but Plaza’s location warrants it and makes way more sense. I believe, there is no real convention business in Daytona Beach Resort & Conference Center. Proms and church groups are unlikely to make it a thriving business, however, you still need to maintain the meeting areas, air condition them, replace the carpet, and quite a few other things.
There are 19 units for sale in Daytona Beach Resort (Follow this link to see all units for sale in the resort). Starting prices are in the $40s for City view units. Everything seems right, but… yesterday I received a frantic call from my former client, who owns a unit there. He said the resort will be closed in September for major renovations, and that it would take 9 months, while owners will still be responsible for paying Association Dues, and taxes, and on top of this there will be $10K per unit special assessment.
If this is because of Hurricane Matthew, that would be something.
And probably, it is.
P.S. I called the resort and asked them. The answer was dry. It has not yet been confirmed. They did not deny it. They could not give me any more information. So, if in few days I see the prices falling dramatically, I know why…
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