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Adam's Mark Resort Gets New Name and $20M Facelift

DAYTONA BEACH, FL-The 15-year-old, 746-room oceanfront hotel will fly the Hilton flag in first quarter 2005 when it will become the third largest Hilton property in Florida. Daytona Beach and state agencies plan about $75 million in infrastructure improvements in a new tourism push.

By Alex Finkelstein | Updated on July 23, 2004

DAYTONA BEACH, FL-The 746-room Adam’s Mark Resort, a local landmark and often a controversial location for nine years at 100 N. Atlantic Ave., will become the Hilton Daytona Beach Resort in first quarter 2005 when a planned $20 million renovations program kicks in. At the same time, Daytona Beach and state agencies plan about $75 million in infrastructure improvements in a new tourism push.

Daytona Beach city officials confirm that the hotel’s new owners, Pyramid Advisors LLC, a Boston-based hotel management and advisory firm, and Morgan Stanley Real Estate Fund of New York, will focus the renovations on the 436-room South Tower component of the hotel.

Pyramid and Morgan Stanley bought the Adam’s Mark in December 2003 from the St. Louis-based parent of Adam’s Mark for $54.1 million or about $75,520 per room, according to Volusia County real estate records.

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