71-room Art Deco Florida Hotel Sold for $19.7 Million

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The Eurostars Winter Haven hotel, located on South Beach’s iconic Ocean Drive, has been sold for $19.7 million. The 71-room Art Deco property at 1400 Ocean Drive was purchased by WH Miami Properties, an affiliate of Barcelona-based Hotusa Group, which owns the Eurostars brand. The seller, HHLP Winter Haven Associates LLC, is an affiliate of Philadelphia-based Hersha Hospitality Trust.

According to data, the sale price works out to approximately $277,465 per room. The hotel last changed hands in 2013 for $15.65 million, meaning it sold for a profit of just over $4 million.

Built in 1939, the six-story hotel totals 27,760 square feet on a 6,500-square-foot site and boasts an Italian restaurant, Il Bolognese, on the ground floor with outdoor dining along Ocean Drive. The hotel’s Art Deco style is a hallmark of the historic South Beach area, attracting both tourists and locals alike.

Hersha Hospitality Trust, the previous owner, went private in 2023 after being acquired by KSL Capital Partners in a $1.4 billion deal. The company now owns 22 hotels across the U.S.

The buyer, Eurostars, manages more than 200 hotels across Europe and the Americas, adding this prime Miami Beach location to its portfolio as part of its growing international presence.