FORT LAUDERDALE, FL—Investors may be flocking to Miami hotels but that doesn't leave the rest of South Florida out of the picture. Indeed, Fort Lauderdale, the yacht capital of the world, is attracting hotel investors to its shores.

Here's the backstory: The Miami hotel market has witnessed record-breaking transaction volumes annually since the downturn. But there are very few acquisition opportunities many investors are likely to employ hold strategies to maximize asset value. Now, Jones Lang LaSalle reports, Fort Lauderdale is hitting a peak in investor interest with projections of more than $450 million in hotel transactions expected to close in the next 12 months.

“Fort Lauderdale is becoming a premier location for leisure travelers and investors alike,” says Gregory Rumpel, managing director of JLL's Hotels & Hospitality Group. “The market, once positioned to capture Miami's infinite tourism overflow due to its location just 30 minutes north, has become a key destination itself. Thirteen-million tourists are expected to visit this year.”