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Naples Hotel Group Acquires Development, Management Contract for New Miami Hotel.

MANews-(C)2009-2016

15 April 2016 - US-based hotel development and management company The Naples Hotel Group has acquired the development and management contract for the new Residence Inn by Marriott located in downtown Miami, Florida, the company said.

As part of the contract, the company will oversee the overall construction of the hotel and manage all aspects of the opening and operations.

This contract marks the third hotel project between owner's Hotelex Group and Naples Hotel Group.

The Florida hotel will be located in Brickell on Southwest 2nd Avenue.

Brickell is an establishing urban neighbourhood in Miami just south of downtown.

The Residence Inn will have 206 suites and on-site parking. Some featured amenities of the hotel include an expanded lobby with a full-service bar, a outdoor pool, and fitness area.

Construction of the hotel is projected to start in 1Q17.

Naples Hotel Group is a hotel development and management company founded in 1999.

Country: USA

Sector: Hotels/Restaurants/Casinos/Catering

Target: Residence Inn by Marriott/downtown Miami

Buyer: The Naples Hotel Group

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1U5FL
Date:Apr 15, 2016
Words:194
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