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NASCAR: Historic Daytona Streamline Hotel sold to NY Investors

Posted by AR1 staff

–by Mark Cipolloni–

Daytona Beach’s iconic Streamline Hotel has new owners. MG Capital Partners, an investor group from New York, has agreed to purchase the hotel from its previous owner Eddie Hennessy.

It’s still best known as the place where NASCAR was formed as an official body in 1947.

The hotel sold for $6.75 million according to an initial report by the Daytona Beach News-Journal. That price is significantly higher than the $950k that Hennessy bought it for in April 2014, but for a reason: after making his purchase, Hennessy spent some $6 million renovating the facility after years of slow decay.

Credit: DAYTONA BEACH, FL – DECEMBER 14, 1947: A series of three meetings convened at the Streamline Hotel to establish criteria for professional stock car racing, leading to the formation of NASCAR. In this group: Front row, kneeling (L-R) – Chick DiNatale, Jimmy Quisenberry, Ed Bruce, Jack Peters, Alvin Hawkins. Back row, standing (L-R) – Freddie Horton, Sam Packard, Ed Samples (hidden), Joe Ross, Marshall Teague, Bill Tuthill, Joe Littlejohn, Bob Osiecki, Buddy Shuman,, Lucky Sauer (hidden), Tom Galan, Eddie Bland, Bill France Sr., Bob Richards, Harvey Tattersall Jr., Fred Dagavar, Bill Streeter, Jimmy Cox. (Photo by ISC Archives/CQ-Roll Call Group via Getty Images)
Credit: DAYTONA BEACH, FL — 1947: This was the scene in what was called the “smoke filled room,” as 35 men met to form what would ultimately become the National Association for Stock Car Automobile Racing (NASCAR). The room was located on the second floor of the Streamline Hotel in Daytona Beach. (Photo by ISC Images & Archives via Getty Images)
Credit: DAYTONA BEACH, FL – 1954: The site and location where it all began, the Streamline Hotel in Daytona Beach. Preliminary meetings for the formation of NASCAR were held here in 1947, with incorporation taking place the following year. (Photo by ISC Archives/CQ-Roll Call Group via Getty Images)
Credit: DAYTONA BEACH, FL – 1947: NASCAR’s early leaders meet in the Streamline Hotel in Daytona Beach. Seated (L-R): Bob Richards, Freddie Horton, Jack Peters, Ed Bruce, Chick DiNatale, Harvey Tattersall Jr., Tom Galan, Alvin Hawkins, Bill Tuthill, Bill France Sr., Mildred Ayres, Joe Littlejohn, Jimmy Cox, Eddie Bland, Joe Ross, Sam Packard, Bill Streeter, Lucky Sauer. Standing (L-R): Larry Roller, Fred Dagavar, Bob Osiecki, Jimmy Quisenberry, Ed Samples, Marshall Teague. (Photo by ISC Archives/CQ-Roll Call Group via Getty Images)