Jones Lang LaSalle Hotels is to sell a group of water park hotels located the midwest and north east of the US.

The hotel-only auction will take place over February 15-17 and follows a similar event in November last year which saw the sale of more than US$300m-worth (£188m) of properties for a range of financial institutions. The February auction comprises 10 full-service and limited-service water park hotels which are either affiliated with one of InterContinental Hotel Group, Marriott and Best Western, or operated independently. The total value of the portfolio is put at US$450m (£282.1m).

Each of the properties features a new water park element in excess of 50,000sq ft (4,645sq m), which is operated under the CoCo Key Water Resort brand, one of the largest indoor water park franchises in the United States. Starting bids range from US$500,000 (£313,400) to US$5m (£3.1m) per property.