JLL closes sale of the 1,000-key beachfront Diplomat Beach Resort in Hollywood, FL at undisclosed price; esimated to be the third largest single-asset hotel transaction of its kind in U.S. annals

 

SOLD: the Diplomat Beach Resort,
 an award-winning beachfront resort 
 with 1,000 guest rooms
 in Hollywood, FL
The price was not disclosed.

 

 Jeffrey Davis

MIAMI, FL – JLL’s Hotels & Hospitality Group has closed the sale of the Diplomat Beach Resort, an award-winning beachfront resort with 1,000 guest rooms in Hollywood, Florida. The price was not disclosed.

JLL represented the seller in the transaction. A joint venture between Credit Suisse Asset Management and Trinity Fund Advisors LLC purchased the resort.

 

The new owners also announced the signing of a management agreement with Hilton Hotels and Resorts to oversee the resort’s operation under the Curio Collection by Hilton brand.

 

Gregory Rumpel

Extensively renovated and repositioned through a comprehensive $90 million dollar capital plan in 2018, the Diplomat Beach Resort is unrivaled as a world-class beachfront meeting and events-focused resort.

The resort features 1,000 traditional guest rooms and suites and 200,000 square feet of integrated meeting and events space.

 

The property consists of a twin-spired, 33-story tower housing the hotel rooms, a 14,000-square-foot spa, eight restaurants and bars plus multiple pools and cascading waterfalls.

 

 Kevin Davis

Additionally, the property is situated on 10 acres of Atlantic Ocean beachfront offering kayaking, paddleboarding and jet ski rentals. 

 

The JLL Hotels & Hospitality team representing the seller was led by Senior Managing Directors Jeffrey Davis and Gregory Rumpel, Americas CEO Kevin Davis and Global CEO Gilda Perez-Alvarado.

“Over the last few months of 2022, U.S. group demand reached 93% of 2019 levels and we predict even further acceleration through 2023, driven predominantly by upscale and upper upscale hotels,” Jeffrey Davis said.

Gilda Perez-Alvarado.

 

He added, “The sale of the Diplomat was the third largest single-asset hotel sale ever in the U.S and it’s truly a win-win for both the seller and the buyers.”

 

The Diplomat Beach Resort is ideally located between the two most significant airports in South Florida, Fort Lauderdale/Hollywood International Airport (10 minutes) and Miami International Airport (30 minutes), affording the resort unparalleled access to guests from major markets throughout the U.S., Latin America and Europe.

 

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CONTACT:

Cierra Lacasse

JLL PR, Hotels & Hospitality,

 Capital Markets

JLL.com