Daytona Beach Resort & Conference Center. Market Snapshot. April 2018

Daytona Beach Resort & Conference Center

With 322 rooms Daytona Beach Resort & Conference Center is one of the biggest condo-hotels in the area. It is one unit short of The Plaza’s 323 room.

While they are comparable in size, these are very different condo-hotels, but both are at the top of the chain.

The resort changed the management team in Spring last year. A Maryland-based management company, Coakley & Williams, is now in charge of the resort. Libby Gallant is the new General Manager.

The new management came a few months before Hurricane Matthew, which wrecked a lot of damage to the resort. First, it caused evacuation guests and owners. But it was beyond a small fix, and there were rumors of either vacating the whole resort for 9-12 months for major concrete restoration or do it in Phases handling one area at a time.

The work has been completed but work like this usually involves paying Special Assessment.

As of today, there are 30 units for sale in the resort. Considering that 60 units have never been sold, and an actual number of units owned by individual owners, i.e. the market is 262 units, 30 units for sale is over 12% and it is a high number.

Prices start from $46,500. Interestingly, all units for sale in south wing are 5 units on the 4th floor. I guess it is simply a coincidence. 3 units are under contract at this juncture.

Sold Units

In nearly 4 months of 2018, 14 condo-hotel units changed hands. Compare it to only 3 units sold in the same period last year.

23 units closed in 2017. 19 – in 2016.

See the listings below.

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