South Florida’s biggest hotel trades of 2025 were led by three nine-figure deals for waterfront and resort properties, as investors bet on continued strength in luxury leisure and Miami’s urban hospitality market despite rising financing costs. The 10 largest sales totaled more than $960 million, with buyers ranging from institutional firms, global hotel investors, local developers and mission-driven nonprofits. The combined sales volume dipped significantly compared to last year when the top 10 hotel deals of 2024 combined for $1.5 billion.
1. $205M | Silver Sands Beach Resort | Key Biscayne
David Martin’s Coconut Grove-based Terra and Edgardo DeFortuna’s Miami-based Fortune International Group splashed into Key Biscayne with the most expensive hotel purchase this year. The joint venture paid $205 million for the oceanfront Silver Sands Beach Resort at 301 Ocean Drive. The deal, which closed in April, also set a record price for a Key Biscayne development site sale. The developers plan on redeveloping the 50-room hotel into a 14-story boutique condominium with 56 units. An affiliate of Coral Gables-based Axis Development Corporation sold the 3.9-acre property. The price amounted to $52.6 million per acre.
2. $204M | The Raleigh | Miami Beach
This year’s second-biggest hotel sale was a major blow to developer Michael Shvo. In October, he was forced to sell the historic Art Deco hotel, on 3 acres at 1775 Collins Avenue, after he was unable to match a winning $204.1 million bid by private equity firm Nahla Capital, led by Genghis Hadi. Shvo had gutted the original buildings and secured approval for a 17-story luxury condo tower alongside the hotel on the beachfront site. But the project languished. The price amounted to $68 million per acre.
3. $171M | PGA National Resort | Palm Beach Gardens
This transaction was part of a larger $400 million-plus deal in January involving an 807-acre property in Palm Beach Gardens. Henderson Park, Salamander Collection and South Street Partners paid $171.4 million for PGA National Resort at 400 Avenue of the Champions. Toronto-based Brookfield sold the 360-key resort and its golf and spa facilities. The courses were designed by golfing legends Jack Nicklaus, Arnold Palmer, Tom Fazio, Andy Staples and Karl Litten. The price amounted to $475,000 per key.
4. $148M | East Miami | Brickell
Blackstone, led by Stephen Schwarzman, bought the EAST Miami hotel at 788 Brickell Plaza for $147.8 million in September. Trinity Investments and Certares sold the 40-story building for $26 million below the previous sale price in 2021. The 352-key hotel at 788 Brickell Plaza anchors the Brickell City Centre mixed-use complex originally developed by Swire. The price amounted to $420,000 per key.
5. $99M | Moxy Miami | Wynwood
Istanbul-based Süzer Group, led by Sami Çakır and Vice Chairman Baran Süzer, dropped $99 million for a majority stake in the MOXY Miami Wynwood in January. Seller DolphinBay Hospitality, a joint venture between Dolphin Capital Partners and Baywood Hotels, kept a 48 stake in the eight-story, 120-key building at 255 Northwest 25th Street. DolphinBay completed the Kobi Karp-designed hotel in 2024, five years after acquiring the 0.4-acre development site for $11 million.
6. $44M | KImpton Angler’s | Miami Beach
French hotelier Philippe Le Guennec returned to Miami Beach with a big transaction this year. An entity managed by Le Guennec bought Kimpton Angler’s Hotel in Miami Beach for $43.5 million this month. San Francisco-based KHP Capital Partners sold the 132-key building on a 1-acre site at 600 Washington Avenue. The trade breaks down to about $330,000 per room. Le Guennec, who owns 10 hotels in Paris, sold a 24-key Art Deco hotel in Miami Beach’s South of Fifth neighborhood for $9 million in 2017.
7. $37M | Plunge Beach Resort | Lauderdale-by-the-Sea
In July, T2 Hospitality, led by Mike Patel, acquired Plunge Beach Resort for $36.6 million. An entity managed by Oleksandr Naumyk and Liubov Tereshko sold the 163-room beachfront property consisting of a pair of two-story buildings and a five-story low-rise at 4660 North Ocean Drive. Newport Beach, California-based T2 Hospitality paid roughly $224,500 per key.
8. $31M | Fairwind Hotel Miami | Miami Beach
An Art Deco property in South Beach sold at a discount in November. A joint venture between Tony Di Piazza and Private Exchange Group bought the Fairwind Hotel Miami at 1000 Collins Avenue for $31 million, $298,000 per key and 26 percent below the sale price four years ago. In 2021, seller Israel Katz paid $42 million for the 104-room low-rise building completed in 1936.
9. $24M | Stadium Hotel | Miami Gardens
AIDS Healthcare Foundation, a Los Angeles-based nonprofit led by Michael Weinstein, purchased Stadium Hotel in Miami Gardens for $24 million in August. The foundation paid all cash for the 217-room building at 21485 Northwest 27th Avenue in a deal that breaks down to $211,000 per key. An entity managed by David and William Ross sold the 3.9-acre site after months of marketing to hospitality, multifamily, assisted living and alternative-use investors. The buyer likely plans to convert the seven-story building into affordable housing for low-income residents living with HIV.
10. $23M | Doral Inn & Suites Miami Airport West | Doral
Ratia Real Estate Development bought the Doral Inn & Suites Miami Airport West at 1212 Northwest 82nd Avenue in Doral for $23 million in October. An affiliate of Miami-based Qua Integral Services Real Estate sold the 112-key condo-hotel for roughly $205,000 per unit.