Date acquired: Contracted 2015
Location: 1055 N. Federal Highway, Fort Lauderdale, FL, 33304, USA
Features: SMS contracted to manage 144-room property for an asset management group with foreign investors
This property is a full management contract agreement with a Miami-based company with international investors.
The ownership group purchased the property in 2016 with redevelopment plans to upgrade the asset. SMS Lodging was contracted to manage the property until the renovation was complete.
SMS managed the asset with an average RevPar index of 112 compared against a comp-set of branded properties.