2017 - 2021 Tripavidor Excellence Awards for Melbourne All Suites Inn and the 2018 Keep Brevard Beautiful Award

The Melbourne All Suites Inn

Melbourne All Suites Inn Under Overhang Entrance
Melbourne All Suites Inn Under Overhang Entrance

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Melbourne All Suites Inn Lobby
Melbourne All Suites Inn Lobby

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Melbourne All Suites Inn Outside Lounge & Fire Pit
Melbourne All Suites Inn Outside Lounge & Fire Pit

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Melbourne All Suites Inn Under Overhang Entrance
Melbourne All Suites Inn Under Overhang Entrance

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When Pax bought this former 235-unit hotel out of bankruptcy in 2015, it was the most visited place by police in the city. Then Pax reimagined it and created 140 suites and turned a decaying IHOP into a Key West style building, winning county beautifications and many other awards, including Trip Advisors’ highest award every single year since Pax reopened it. Today, the property is so popular, it posted positive Net Operating Income and post-debt cash flow every single month of the pandemic—the worst hospitality market on record.

Melbourne All Suites Inn, Melbourne, FL
Total Initial Investment (including capex)
Current Market Value
Gain on Asset Value to Date
Average Annual Cash Yields to Date
Projected Equity Multiple
Projected IRR

Purchased September  2015
$6,762,500 
$16,450,000 
143.3%
7.2%
2.6 - 3.0
16 - 22%