RREAF Holdings acquires Sea Oats Motel in Destin, FL

As featured in "Hotel Business"
Gregg Wallis, Hotel Business, 29 July, 2026

RREAF Holdings was recently featured in Hotel Business following the acquisition of the iconic Sea Oats Motel, a 46-key beachfront hotel located in Destin, Florida. To read more about the acquisition, please see below.

RREAF Holdings has acquired the Sea Oats Motel, a 46-key, beachfront hospitality asset located in Destin, FL. The acquisition marks RREAF's first beachfront hospitality investment since 2022.

First opened in 1964, Sea Oats is one of only two hotels located directly on the beach within Destin proper, offering direct beachfront access in one of Florida's most supply-constrained coastal markets.

The property is uniquely positioned adjacent to city-owned land slated for development into a future state park with public beach access, further enhancing the location's long-term desirability and reinforcing the asset's intrinsic value, according to the company.

"Beachfront hospitality is inherently opportunistic," said Brad Busby, EVP, hospitality, RREAF Holdings. "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."

Since establishing its hospitality platform in 2012, RREAF has consistently targeted Destin due to its robust tourism fundamentals, limited beachfront supply and enduring demand drivers, the company reports. Fourteen years later, the acquisition of Sea Oats now fulfills a long-standing strategic goal for the firm.

"Destin has been a market we have pursued thoughtfully for more than a decade," said Mitch Provosty, CFO/founder, RREAF's beachfront hospitality platform. "Acquiring a hotel directly on the beach in Destin represents a significant milestone for our firm."

RREAF plans to retain the current on-site team members, many of whom have extensive experience and operational knowledge of the property, while transitioning the corporate-level property management oversight to RREAF's in-house hospitality team. This strategy will allow the firm to maintain the property's established service culture while implementing institutional operational standards.

RREAF intends to operate the hotel through the conclusion of the 2026 peak season to maximize high-season performance. Following the season, the property will temporarily close for a comprehensive renovation.

We appreciate and thank Hotel Business, and Gregg Wallis, for covering our latest hospitality acquisition. For the full article, please visit Hotel Business.