Date acquired: Feb. 2011
Location: 819 Simonton Street, Key West, FL 33040
Features: 18 rooms, 1 pool,1 jacuzzi
SMS Lodging led the acquisition of this 18-room boutique Inn in Key West and is the management company of the property. By enhancing the online presence of the property, and aggressively applying revenue management techniques, room revenue increased by 33% year-over-year.
February 2011 – Purchased an 18 room all-suite for $4,345,000;
November 2019 – Refinanced the property, and paid back all the capital invested to investors.
The latest appraisal valued the property at $9,600,000, an appreciation of more than 120% in 10 years;
$2.2mm in Revenue in 2019, $1.3mm in Revenue in the first half of 2021.
DATE ACQUIRED: Feb. 2011
FEATURES: 18 rooms, 1 pool, 1 jacuzzi
LOCATION: 819 Simonton Street, Key West, FL 33040