The Real Deal Miami

Historic Gulfstream Hotel acquired by joint venture

$9 million renovation, including new restaurants, planned at Lake Worth property

May 14, 2014 12:00PM

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Gulfstream Hotel

Gulfstream Hotel

The historic Gulfstream Hotel in Lake Worth was acquired by a joint venture that plans a $9 million renovation.

Delray Beach-based Hudson Holdings and CDS International Holdings of Boca Raton teamed up to purchase the hotel. The transaction has not been recorded by Palm Beach County.

Hudson principal Steve Michael disclosed the acquisition to the Palm Beach Post. Michael did not reveal the purchase price. The venture aims to bring back the “natural beauty” of the hotel through the renovations.

Plans include reducing the hotel’s room count from 106 to 95 and opening a rooftop sky bar and ground-floor restaurant.

The Gulfstream Hotel was constructed in 1925 and added to the National Register of Historic Places in 1983. [Palm Beach Post]Eric Kalis

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