The Real Deal Miami

Schulte nabs Miramar Hilton Garden Inn for $22M

Sale marks second hotel purchase this month for Kentucky-based firm

June 18, 2015 03:00PM
By Sean Stewart-Muniz

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The Hilton at 14501 Hotel  Road in Miramar

The Hilton Garden Inn at 14501 Hotel Road in Miramar

A hotel in Miramar was just sold to a Kentucky-based hospitality group for $22 million.

Schulte Hospitality Group, in their second South Florida purchase this month, picked up the 149-room Hilton Garden Inn at 14501 Hotel Road. Garden Inn is Hilton’s mid-scale chain that operates around the world.

The property’s previous owner, an affiliate of Cleveland-based MEI Hotels, first bought the four-acre parcel for $1.5 million from a local company led by Realtor Bradley A. Duber.

MEI built the 82,393-square-foot Hilton in 2002, and opened its doors shortly after.

Schulte also purchased a Holiday Inn Express in Doral for $16 million last week, which brings their hotel holdings in Florida to four properties.