Iconic Sea Oats Motel in Destin acquired, to undergo renovations

As featured in "Get The Coast"
Jared Williams, Get The Coast, 29 July, 2026

RREAF Holdings was recently featured in Get The Coast following the acquisition of the iconic Sea Oats Motel, a 46-key beachfront hotel located in Destin, Florida. The acquisition marks the firm's first beachfront hospitality investment since 2022 and represents a significant milestone in RREAF Holdings' long-term hospitality strategy focused on acquiring irreplaceable coastal assets in high-demand markets.

Read more below for additional details regarding the acquisition and RREAF Holdings' plans for the property.

RREAF Holdings has acquired the Sea Oats Motel, one of only two hotels located directly on the beach in Destin. Originally opened in 1964, the property occupies a premier beachfront location along Scenic Highway 98 in Destin's highly sought-after Tarpon Beach area, offering direct Gulf-front access in one of Florida's most supply-constrained hospitality markets.

The acquisition fulfills a strategic objective RREAF Holdings has pursued since launching its hospitality platform in 2012. With limited opportunities to acquire true beachfront hospitality assets in Destin, the property represents a rare addition to the firm's growing hospitality portfolio.

Brad Busby, Executive Vice President of Hospitality at RREAF Holdings, emphasized the significance of acquiring an asset of this caliber.

"Beachfront hospitality is inherently opportunistic. Properties like Sea Oats rarely come to market, and when they do, we must ensure that the opportunity aligns across location, basis, and long-term demand. This acquisition showcases our patience and conviction as a hospitality owner, and we are thrilled to add such a scarce and iconic property to our portfolio."

Mitch Provosty, Chief Financial Officer and Founder of RREAF Holdings' beachfront hospitality platform, also reflected on the importance of the acquisition.

"Destin has been a market we have pursued thoughtfully for more than a decade. Acquiring a hotel directly on the beach in Destin represents a significant milestone for our firm."

RREAF Holdings plans to operate the hotel through the conclusion of the 2026 peak travel season before beginning a comprehensive renovation program. Planned improvements include the renovation of all guestrooms, the addition of at least two new hotel keys, upgrades to furniture, fixtures and equipment, infrastructure enhancements, and a complete property rebrand supported by RREAF's in-house hospitality management platform.

The firm also plans to retain the property's experienced on-site team while transitioning corporate-level operations to its internal hospitality management group, reinforcing RREAF Holdings' vertically integrated operating model and long-term commitment to delivering an enhanced guest experience.

We appreciate and thank Get The Coast, and Jared Williams, for highlighting RREAF Holdings and sharing insight into the firm's continued expansion of its beachfront hospitality portfolio and long-term investment strategy along the Gulf Coast. For the full article, please visit Get The Coast.