DiamondRock Hospitality Co. has acquired a fee-simple interest in The Kimpton Fort Lauderdale Beach Resort, a boutique lifestyle beach resort in Fort Lauderdale, Fla., for $35.3 million.
The resort will be operated by HEI Hotels & Resorts under a franchise agreement with Kimpton Hotels & Restaurants.
“This acquisition marks our 14th resort, and we are extremely excited to add The Kimpton Fort Lauderdale Beach Resort to our portfolio and extend DiamondRock's leadership with the preeminent portfolio of leisure-oriented, lifestyle hotels and resorts,” said Mark W. Brugger, president and CEO of DiamondRock Hospitality Company. “The resort was acquired in an off-market transaction at a significant discount to recently consummated transactions in the market. We plan to capitalize on synergies by having HEI Hotels & Resorts manage this resort in addition to managing DiamondRock's nearby Westin Fort Lauderdale Beach Resort. There are significant opportuni
