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Announcement

Margaritaville hotel sold for $270 million !!

By
Cashflow In Miami
on
July 7, 2021

1111 N. Ocean Drive, Hollywood Beach, FL

Denver-based KSL Capital Partners is selling the 369-room hotel, in Hollywood Beach The company purchased the hotel for $190 million in April 2018.

Buyer- Bethesda, Maryland-based Pebblebrook Hotel Trust (NYSE: PEB).

Pebblebrook Hotel Trust said the transaction is expected to close in the third quarter, subject to typical closing conditions.

That means the resort rose 42.1% in value in just over three years.

The latest purchase price equates to about $731,700 a room.

The company might use mostly cash on hand to purchase the hotel, which opened in 2015. As part of the acquisition, Pebblebrook may also assume up to $161.5 million of secured, non-recourse debt currently in place for the Margaritaville Hollywood Beach Resort.

The Hollywood resort is one of 27 Margaritaville hotels and resorts worldwide, and one of 14 currently open in the U.S.

Margaritaville Hollywood Beach Resort encompasses 666,300 square feet of space, according to county records. Amenities include eight food and beverage options, a spa, 30,000 square feet of event space, and an expansive pool deck.

‍Interested in more information? Contact Andrey today!

...

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