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September 21, 2011

InSite, Carlyle buy Continental Hotel Bayside

The InSite Group and Carlyle Group joint venture has purchased the Continental Hotel Bayside in Miami, Florida, US, from RFR Holding for $13.5m.

By Marina Leiva

The Insite Group and Carlyle Group joint venture has purchased the Continental Hotel Bayside in Miami, Florida, US, from RFR Holding for $13.5m.

Insite Group vice-president of acquisitions and development Ronald Tencer said a full renovation of the 251-room hotel will begin in early 2012 and the company is still deciding on a brand.

The hotel will relaunch in its new form in late 2012.

In a separate project, the Continental Oceanfront South Beach Hotel, also in Miami, was bought by InSite earlier this year for $61m.

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