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Shores Resort & Spa acquired by US investor

19 Dec 2016 The Shores Resort & Spa, located in Daytona Beach, Florida, has been acquired by US real estate investment company Uhon.

Uhon has plans to upgrade the resort hotel to match the local history of Daytona and to improve the hotel for long term ownership (pointing to a buy and build strategy). Renovation plans are still in early stages and thus full details of what will be on offer are currently unavailable.

Uhon – about whom full details are equally scarce – was founded in 2015, seemingly to target real estate investment opportunities that will entice Chinese investors into North America.

The Shores Resort, meanwhile, opened in 1973 and is the only hotel in Volusia County with a four-diamond rating from the AAA auto club.

Frank Yuan, CEO of ASAP (the company that advised Uhon on the deal), said: "This is a tremendous opportunity to reinvest into a beloved Daytona Beach icon and transform the resort into a world-class destination.

“The Shores Resort & Spa is shining diamond for the community, and we are excited to step in to help shape the future of such a storied hotel that has charmed guests for decades."