FT. LAUDERDALE, Fla.–(BUSINESS WIRE)–Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel management and investment company, today assumed management of the 219-room Fort Lauderdale Marriott Pompano Beach Resort & Spa. The property was recently acquired by Key International, a leading international real estate development and investment firm, and Wexford Real Estate Investors (WREI).
“The Fort Lauderdale Marriott Pompano Beach Resort & Spa fits nicely with our strategic plan, which includes partnering with best-in-class owners and investors who share the same vision we have for our industry and working with the type of properties that should outperform now and into the foreseeable future,” said Robert Cole, president & CEO, HVMG. “With the addition of our two Marriott branded Orlando hotels earlier this month, our Florida portfolio currently sits at 10 hotels. This also marks our seventh resort property, a growing segment for our company. Our pipeline remains active, and we look forward to riding this momentum into the new year.”
Located at 1200 North Ocean Blvd., the resort is surrounded by the white sands of Pompano Beach and just a short drive from Deerfield Beach. Guests also may enjoy nearby visiting Shipwreck Park, Pompano Park Amphitheater and South Florida Diving Headquarters. Resort amenities range from two swimming pools and 24/7 fitness center, as well as 8,200 square feet of event space. Guests are invited to dine at AND Fish Kitchen + Bar, which provides fresh, sustainable seafood, or Patio 1200, which offers patio dining and bar service. The resort also houses a signature day spa that offers a variety of massage and wellness packages to relax and rejuvenate. Guest rooms provide stylishly appointed resort accommodations with unobstructed ocean views, contemporary comforts, marble bathrooms and premium amenities.
The property is the latest addition to Key International’s active hospitality acquisition program, which focuses on the purchase of well-located hotels and resorts in robust markets throughout the Southeast U.S. and Europe. In partnership with WREI, the firm plans a major renovation to the resort, creating a new resort-style pool deck and upgrading the room product as well as the on-site restaurant. Together, Key International and WREI have developed multiple beachfront hotel and resort properties with current assets in Panama City Beach, Jacksonville and Fort Lauderdale Beach.
“In growing our portfolio, we strive to make an impact on the hospitality experience in each of our markets,” said Shawn Gracey, executive vice president of hospitality, Key International. “This marks our third resort operated by HVMG as we continue to seek the best-in-class operational partners in pursuit of our growth goals.”
About Hospitality Ventures Management Group
Hospitality Ventures Management Group is a privately owned, fully integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. It currently operates 56 hotels and one convention center in 17 states totaling 8999 guest rooms. HVMG operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hard Rock, Hilton, Hyatt, Marriott and IHG brands. Visit www.hvmg.com for more information.
About Key International
Key International is a full-service real estate firm bringing over 30 years of leadership and success in global investments and developments, with offices in Miami and Madrid. With a proven track record in generating excellent returns for partners, the firm specializes in real estate projects that improve customers’ lifestyles through great locations and quality product. This includes forward-thinking considerations for everyday life, work, convenience, entertainment, and leisure. Following these principles, Key International is one of the few real estate firms with the demonstrated ability to deliver success across multiple real estate classes – including condominium, hospitality, multifamily, and office. Such diversification is a cornerstone of its approach and serves to maximize future development and investment opportunities.
With over 10 million square feet in residential developments, notable projects include Eden Roc Resort Miami Beach, Marriott Stanton Hotel South Beach, 400 Sunny Isles, 1010 Brickell, and the master plan of Riverfront Community (a 13.5-acre gated community in Downtown Miami). Additionally, Key International manages over $1.5 billion in assets under its current hotel portfolio comprised of over 3,000 hotel units. Please see keyint.com for more information on the company and its portfolio.