The impressive figure that was paid in the United States for the sale of a resort in Miami
This is the highest hotel sales in the country since the start of the pandemic
Soledad CedroFrom Miami, Florida , United States
The Diplomat Beach Resort is located on Hollywood Beach, in South Florida
The sale of a most expensive hotel complex that has taken place in the country since the beginning of 2020 has just been completed in South Florida, specificallyin Hollywood Beach, just north of Miami Dade, at the beginning of Broward County.
The beachfront Diplomat Beach Resort sold for $835 million , according to the report published this week by the JLL mortgage loan firm, responsible for the transaction.
The hotel has access to the beach with service on the sand< p class="paragraph">The hotel at 3555 Ocean Drive South was bought by two investment firms: Credit Suisse Group and Trinity Investments. The seller of the property was the firm Brookfield Asset Management, who also own the outdoor mall in the Design District, in Miami.
The hotel is managed by the Hilton chain and will continue to be so under the new owners
The sale of the Diplomat in Hollywood was one of the highest in history, previously surpassed by the sale of the Boca Raton Resort and Club, in 2019 for $875 million.
The Diplomat is a 39-story, 1,000-room resort whose main business is conferences. After the pandemic, in 2021 it reopened to the public but faced some complications such as problems with its employees who threatened to go on strike -something unusual in the industry in the United States-.
The resort has a thousand rooms on 39 floors
The hotel is currently managed by the Hilton chainand under the new owners it will continue with this same administration. It is expected that it will continue to focus on the organization of conferences, since it has large convention rooms, despite the fact that its location is very attractive for tourists in general.
Broward's beaches, very Close to Miami, they are usually highly sought after by tourists who arrive with families who want a more relaxed atmosphere than South Beach, but with the possibility of getting to Miami easily.
Due to its large meeting rooms, conventions are the hotel's forte
This sale comes to demystify that the South Florida hotel market has been deflated after the pandemic. It is not only one of the highest post-pandemic sales, but also in history at the country level.