DiamondRock Hospitality Co. Acquires Fort Lauderdale Hotel For $18.97M

The hotel located at 2900 Riomar Street in Fort Lauderdale has been sold. The property, which offers 96 rooms, was purchased by DiamondRock Hospitality Co. for a total sale price of $18,970,000. The transaction took place on 04/04/2022. The buyer's representative in this deal was Mark Brugger from DiamondRock Hospitality Co., while the seller was Banyan Investment Group. The hotel is situated in the Fort Lauderdale market.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $18,970,000
• Address: 2900 Riomar Street
• Market: Fort Lauderdale
• Buyer: DiamondRock Hospitality Co. - Mark Brugger
• Seller: Banyan Investment Group
• Keys: 96
• Price Per Key (PPK): $197,604

DiamondRock Hospitality Co., represented by Mark Brugger, finalized the purchase of the hotel from Banyan Investment Group. The deal, which closed on 04/04/2022, marked a significant transaction in the Fort Lauderdale market. The acquisition of this hotel adds to DiamondRock Hospitality Co.'s portfolio in the hospitality industry.