According to Okaloosa County records, the 75-room hotel, affiliated with Choice Hotels and owned by Richard and Martha Colbert of Gulf Breeze, sold for $5 million on May 20.
In a statement to Hotel Management Magazine regarding the transaction, Alexis Hajjar, an investment associate for Ridhaan, said, “This transaction reflects continued investor demand for well-positioned hospitality assets throughout the Gulf South and Florida Panhandle markets.”
