Service Properties Trust Acquires Nautilus Hotel In Miami Beach For $165.4M

Service Properties Trust, represented by Todd Hargreaves, has acquired the Nautilus Hotel in Miami Beach for $165.4 million. The oceanfront hotel features 250 rooms and will undergo a $25 million repositioning and rebranding effort. After the transformation, it will reopen in early 2025 as the Nautilus Sonesta Miami Beach.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $165,400,000
• Address: 1825 Collins Avenue - Nautilus Hotel, Miami Beach
• Market: Miami Beach

Todd Hargreaves, representing Service Properties Trust, played a key role in the acquisition of the Nautilus Hotel. The purchase marks an important addition to the Trust's portfolio, expanding its presence in the Miami Beach market. With the planned repositioning and rebranding, Service Properties Trust aims to enhance the hotel's offerings and provide guests with an elevated experience.