Fort Lauderdale Westin to sell for $149M

Westin Beach Resort & Spa
Westin Beach Resort & Spa

Another South Florida Westin is about to change hands in an expensive deal.

Maryland real estate investment trust DiamondRock Hospitality announced it has a deal in place to acquire Fort Lauderdale’s Westin Beach Resort & Spa for $149 million. The transaction is set to close next month. The 432-room Westin will join DiamondRock’s portfolio of 27 hotels totaling 11,000 rooms.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

“The Westin Beach Resort & Spa, Fort Lauderdale represents a rare opportunity to acquire prime beachfront property in Southern Florida, a [high revenue], high-growth market, DiamondRock president Mark Brugger said, as cited by the South Florida Business Journal.

Another Maryland REIT, Pebblebrook Hotel Trust, paid $59 million for the Westin Colonnade Coral Gables earlier this month. In August, the former Westin Diplomat Resort & Spa in Hollywood traded in a $535.5 million deal. That was one of the most expensive real estate transactions in South Florida history. [South Florida Business Journal]Eric Kalis