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Pebblebrook Pays $270M for Flagship Margaritaville Hollywood
Pebblebrook Hotel Trust acquired the 369-room oceanfront Margaritaville Hollywood Beach Resort in Hollywood, FL for $270 million from an affiliate of KSL Capital Partners. The 369-key lifestyle resort, considered the flagship of the Margaritaville brand, will continue to be managed by Davidson Hospitality Group.
“This premier lifestyle resort attracts both leisure and corporate group customers who seek a unique laid-back experience with a wide array of restaurant, bar, and entertainment venues,” said Jon Bortz, Pebblebrook’s chairman and CEO. “In addition, Margaritaville’s strategic oceanfront location on the Hollywood Broadwalk makes it a natural destination for residents and tourists in the South Florida market.”
Pebblebrook is evaluating numerous operating and physical enhancements for additional upside opportunities and increased cash flow. These include adding guestrooms, expanding the restaurant and bar offerings, reimagining the merchandising and quality of the retail space, and creating additional revenue-generating venues from under-utilized indoor and outdoor spaces and areas.
- ◦Sale/Acquisition
