Grupo Hotusa is booking into Miami Beach, acquiring an Art Deco hotel for $19.7 million.
An affiliate of Barcelona-based Hotusa, led by President Amancio Lòpez Seijas, bought the Eurostars Winter Haven, a 71-room property completed in 1939 at 1400 Ocean Drive, records and real estate database Vizzda show. Hotusa also owns Eurostars, the brand that operates the hotel.
The deal breaks down to $277,465 per room.
The seller, an affiliate of Harrisburg, Pennsylvania-based Hersha Hospitality Trust, paid $15.7 million for the six-story hotel in 2013, records show. The same year, Hersha also acquired the Blue Moon Hotel at 944 Collins Avenue in Miami Beach for $16.7 million.
In May, Hersha sold Blue Moon Hotel for a slight discount to New York-based Blue Suede Hospitality, which paid $16.6 million for the three-story, 75-key building. In August, Blue Suede landed a $27 million loan to refurbish Blue Moon Hotel, an adjacent apartment building at 952 Collins Avenue and the Kayak Miami Beach hotel at 2216 Park Avenue in Miami Beach.
Billionaire siblings Simon and David Reuben are also entering the Miami Beach hotel game. Their eponymous investment firm is under contract to buy a majority stake in the 395-room W South Beach at 2201 Collins Avenue in a deal valued at more than $400 million.
In Delray Beach, a joint venture picked up a Hilton-branded property this month. Tmgoc Ventures and Certares Management paid $57.7 million for the Ray Hotel Delray Beach, a 141-key building completed in 2021 by the seller, Menin Development.
And in late August, Miami-based MG Developer jumped into the hospitality sector. The Coral Gables firm bought Regency Miami Airport by Sonesta, a five-story hotel with 176 rooms at 1000 Northwest 42nd Avenue, for $36 million. Prior to the hotel purchase, MG Developer focused on building boutique condominiums, townhomes and mixed-use projects.