After 2013 groundbreaking, Hollywood beach resort finally set to open in spring

Costa Hollywood Beach Resort, a 307-unit hotel with a mix of studios and suites, is offering introductory nightly rates starting at $219

Miami /
Feb.February 03, 2018 11:30 AM

Costa Hollywood Beach Resort

It has taken longer than expected, but a 307-key oceanfront resort hotel in Hollywood is finally set to open in spring.

Costa Hollywood Beach Resort will offer introductory rates starting at $219 per night for studios and one-, two- and three-bedroom suites.

Aimed at families planning extended stays, each Costa Hollywood suite will be equipped with a full-size refrigerator, microwave oven and oven/cooktop. Suites range in size from 405 square feet to 1,275 square feet. Nightly rates include two beach chairs and complimentary Wi-Fi and cover programs and activities for children.

Costa Hollywood will feature a rooftop swimming-pool deck and a poolside restaurant/bar overlooking the Atlantic Ocean and Intracoastal Waterway. Piegari, an award-winning restaurant in Buenos Aires, Argentina, will open its first U.S. location at Costa Hollywood in summer.

Evolution Hospitality, a San Clemente, California-based hotel investment and management firm, is the manager of Costa Hollywood, located at 777 North Ocean Drive.

In 2014, the development temporarily was named Meliá Costa Hollywood Beach Resort after hotel operator Meliá Hotels International agreed to be the resort’s manager.

The slower-than-expected construction of the development began in 2013, when the developer was marketing Costa Hollywood’s 307 units as condos to investors in South America and Argentina, in particular.

Originally scheduled to open in 2014, Costa Hollywood attracted a $70 million loan in 2015 to finish construction. At that point in the project, Moses Bensusan, the Canadian developer of the Hollywood resort, had presold 85 percent of the units. – Mike Seemuth


Related Articles

arrow_forward_ios
From left: The Estate Companies' managing principal Robert Suris and principal Jeffrey Ardizon along with a rendering of Soleste Pompano Beach and a sitemap for Soleste Hollywood Boulevard (The Estate Companies)
Estate Companies’ Pompano Beach, Hollywood apartment projects advance
Estate Companies’ Pompano Beach, Hollywood apartment projects advance
Charles “Chip” Abele and the 1818 Park project at 1818 Hollywood Boulevard (1818 Park)
Charles “Chip” Abele sells Hollywood mixed-use project for $66M tied to $84M refi
Charles “Chip” Abele sells Hollywood mixed-use project for $66M tied to $84M refi
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Sergio Agüero with 900 South Northlake Drive (Getty, 1 Oak Studios, iStock)
Soccer star Sergio Agüero pays record $15M for Hollywood mansion
Soccer star Sergio Agüero pays record $15M for Hollywood mansion
Transamerican Development's President Albert Benalloun with  3100 South Ocean Drive (Google Maps, Benher Capital)
Publix pays $13M for waterfront Hollywood site approved for supermarket
Publix pays $13M for waterfront Hollywood site approved for supermarket
Joseph Chetrit and the Hollywood Beach Resort (Chetrit Group, LoopNet)
Redevelopment ploy? Chetrit buys 102 condos at aging, oceanfront Hollywood Beach Resort
Redevelopment ploy? Chetrit buys 102 condos at aging, oceanfront Hollywood Beach Resort
Luna at Hollywood condominium at 3600 Van Buren Street (Apartments.com, iStock)
Surfside investor completes $34M Hollywood bulk condo purchase
Surfside investor completes $34M Hollywood bulk condo purchase
Hollywood (Reinaldo Borges of Borges Architects & Associates, iStock)
Italian developer plans 180-unit apartment project in Hollywood
Italian developer plans 180-unit apartment project in Hollywood
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...