Please reload

Hollywood, Fla.: Sotherly Hotels buys Hyde Resort commercial unit for $4.25M


Lodging REIT Sotherly Hotels Inc. acquired the hotel commercial unit of the Hyde Resort & Residences, located in Hollywood, Florida, for $4.25 million.


The hotel commercial unit consists of the designated lobby and front desk areas, offices, and other spaces.


In addition, the Company entered into a lease for the 400-space parking garage and meeting rooms of the Resort, as well as an agreement to operate and manage the condominium association. 


The Hyde Resort & Residences is a recently completed new development in Hollywood, Florida. The 400-unit condominium-hotel consists of 363 use-restricted units and 37 residences that feature one, two and three bedroom layouts, gourmet kitchens, floor-to-ceiling glass doors with private terraces and Atlantic Ocean views.


The Resort, designed by Brazilian architect Debora Aguiar, boasts an elegant double-volume lobby, infinity-end ocean view pool and sundeck, state-of-the-art fitness center, a luxurious spa, and chef-driven restaurant.


“The Hyde Resort & Residences is a first-class luxury development that we are thrilled to add to the Sotherly portfolio," said Drew Sims, Sotherly Hotels CEO. "Our management team has experience with the condo-hotel model and we believe it is an attractive opportunity to turn a modest investment into tremendous value for our shareholders. In addition, the close proximity of The Hyde and the Crowne Plaza Hollywood Beach Resort provides for operational efficiencies and sales and marketing synergies as it presents our team with a wide variety of product offerings and amenities to offer our guests. This should benefit both projects and the Company as a whole.”


Williamsburg, Va.-based Sotherly Hotels' portfolio consists of investments in twelve hotel properties, comprising 3,011 rooms, and an interest in the Hyde Resort & Residences, a 400-unit luxury condo-hotel. Most of the Company’s properties operate under the Hilton Worldwide, InterContinental Hotels Group and Marriott International, Inc. brands.

Share on Facebook
Share on Twitter
Please reload

Institutional investors slash CRE capital budget by 19%: Report

Ashford REIT invests in 'purification' tech to create allergy-free guestrooms

REIT to build $110M facility to house immigrants rounded up by Trump

Working in style: The corporate campus designed by Frank Lloyd Wright

Hard Rock unveils plans to revamp Trump's failed Atlantic City casino

Food tenants increasingly crucial for shopping centers: Report

Retailer Finer Fields aims to merge bricks and clicks

The Gents Place 'lifestyle club' muscling into new markets

Please reload


  • White Facebook Icon
  • White Twitter Icon
  • White Instagram Icon
More from Squarefootprint
Further reading



  • White Facebook Icon
  • White Twitter Icon
  • White Instagram Icon