WEST PALM BEACH, FLA. — Colliers has arranged the sale of the 135-room Quality Inn Palm Beach International Airport hotel and an adjacent IHOP restaurant in West Palm Beach. Index Investment Group purchased the assets from Cherry Cove Hospitality for $12.5 million. Mark Rubin and Bastian Laggerbauer of Colliers’ South Florida Investment Services team represented the buyer, and Richard Lillis of Colliers’ Hotels USA division represented the seller in the off-market transaction. Index will assume operations of the hotel immediately and continue to operate it under the Quality Inn flag. The hotel and 5,408-square-foot IHOP are located at 1503-1505 Belvedere Road, roughly two miles from both Palm Beach International Airport and downtown West Palm Beach.
Index Investment Group purchased the Quality Inn Palm Beach International Airport hotel and an adjacent IHOP restaurant in West Palm Beach from Cherry Cove Hospitality.
Colliers Arranges $12.5M Sale of Quality Inn Hotel, IHOP Restaurant in West Palm Beach
515