Fort Lauderdale Sheraton Sells, Gets New Management
- Feb 28, 2018
Everwood Hospitality Partners has acquired the 263-key Sheraton Suites Plantation in Plantation, Fla., a suburb of Fort Lauderdale, for $24.7 million from Fillmore Capital Partners. The new owner contracted Hospitality Ventures Management Group (HVMG) to handle management for the asset. The seller had recently finished updating the building’s guestrooms, and Everwood is planning to commence a $10 million capital improvement project on the Florida hotel’s facade, common areas and amenities.
Located at 311 N. University Drive, the property sits next to the Westside Regional Medical Center and just north of the Westfield Broward, a 1 million-square-foot indoor shopping mall. The nine-story hotel features 13,900 square feet of event and meeting space, a heated rooftop swimming pool, a 24-hour fitness center, as well as complimentary shuttle service to destinations within three miles of the building.
“The Sheraton Suites Plantation marks our fourth hotel in the Sunshine State, with properties ranging from upscale, full-service hotels affiliated with well-respected and recognized brands to a non-branded, boutique, lifestyle property,” said Robert Cole, president & CEO of HVMG, in a prepared statement.
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