Florida-based Kolter Hospitality and BH Group have purchased Crystal Beach Suites Miami Oceanfront Hotel in the US state of Florida.
Situated at 6985 Collins Avenue in Miami Beach, the hotel was bought from Crystal Beach and Crystal Beach Development.
Financial details of the deal were not disclosed.
Kolter Hospitality president Scott Webb said: “Our company is in a long-term growth mode and we are constantly looking for thoughtful acquisitions to grow our portfolio. The hotel has a dedicated team who will join our family of employees.”
The hotel has 84 suites with private bedrooms and kitchens, a living area with a sofa bed and two large TVs in all the rooms.
It also provides an array of amenities, including an oceanfront pool, beach chairs and umbrella rentals, a fitness centre, a conference room and free Wi-Fi.
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Kolter Hospitality vice-president of sales and marketing Sara Martinez said: “We welcome this unique opportunity to expand our footprint into the Miami market.”
The hotel is situated right by the ocean near Bal Harbour, north of South Beach, providing guests quick access to various shops and restaurants in the city.
Guests can also enjoy activities such as walking, rollerblading, jogging, biking and more at the boardwalk behind the hotel that stretches along the beach and ocean.
BH Group CEO Isaac Toledano said: “We are very excited to be a part of this transformative hotel project and we look forward to progressing with our esteemed partner, Kolter Hospitality.”
Currently, Kolter Hospitality, which is a division of the Kolter Group, runs 15 hotels, comprising over 2,300 rooms across different cities in Florida.