search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aGrupo Frali buys Edgewater dev site to complete full block assemblageGrupo Frali buys Edgewater dev site to complete full block assemblageMarty Burger’s new venture sputters on takeoffMarty Burger’s new venture sputters on takeoffRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlords
New York

Florida Keys getting 1,600 new hotel rooms

Growth comes despite significant regulations

The Gates in the Florida Keys
The Gates in the Florida Keys

From the South Florida Market Report: High room rates expected to continue for the forseeable future are fueling a hotel redevelopment boom in the Florida Keys.

Sign Up for the undefined Newsletter

“The dynamic for investment at this point is very, very good,” said hotelier Jim Rhyne, who is in the process of renovating and expanding his Coconut Cay Resort & Marina in Marathon.

According to projections, by the end of next year, more than a dozen Keys resorts will have either relaunched after a major renovation or opened for the first time since the start of 2014. These properties will account for about 1,600 rooms. [more]

Tags
South Florida Market Report