DAYTONA BEACH, Fla. — The Hilton Daytona Beach Oceanfront Resort is going up for public auction next week.
The hotel on North Atlantic Avenue is the largest in Daytona Beach, but the owners owe more than $100 million on it.
One local leader told Channel 9's Blaine Tolison that the sale is an opportunity for new ownership without the debt.
That would leave room in the budget for renovation, which many say the hotel needs.
"Being a Hilton they should have all the amenities, you know, and that's something that I haven't seen since I've been here," said tourist Calvin Griffin.
Tourists said they are noticing that the resort is in need of some care.
Next week its future will be decided in an online auction.
A bank foreclosed on the well-known hotel last month. It had an outstanding debt of $113 million.
"One of my concerns is if it would stay open and leave the people working who are there," said area resident Deloris Rocco.
Some local leaders believe the sale of the hotel could mean big improvements for the facility.
They hope that without the massive debt a new investor could come in and renovate the hotel.
"I would like to see the pool upgraded, more kid friendly. I'd like to see a little more atmosphere for the grownups after dark," said Griffin.
It's uncertain if the bank will find a buyer. According to the Volusia County property appraiser, the hotel is worth $43 million. That's a far cry from the $142 million it sold for in 2007.
Calls to the hotel's management company were not returned.
The auction will be held at 11 a.m. July 31.
WFTV
