M&A Deal Summary

Diamondrock Hospitality Acquires The Inn at Key West

On September 2, 2014, Diamondrock Hospitality acquired leisure company The Inn at Key West for 48M USD

Acquisition Highlights
  • This is Diamondrock Hospitality’s 4th transaction in the Leisure sector.
  • This is Diamondrock Hospitality’s 4th largest (disclosed) transaction.
  • This is Diamondrock Hospitality’s 5th transaction in the United States.
  • This is Diamondrock Hospitality’s 1st transaction in Florida.

M&A Deal Summary
Date 2014-09-02
Target The Inn at Key West
Sector Leisure
Buyer(s) Diamondrock Hospitality
Deal Type Add-on Acquisition
Deal Value 48M USD

Target

The Inn at Key West

Key West,, Florida, United States
The Inn at Key West owns and operates a 106-room boutique hotel.The Inn at Key West boutique resort hotel includes many unique resort amenities, including one of the best pool experiences in the market with the largest fresh water pool in Key West. The Hotel is accessed by North Roosevelt Boulevard.

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Buyer(S) 1

Buyer

Diamondrock Hospitality

Bethesda, Maryland, United States
Category Company
Sector Real Estate
Employees33
Revenue 1.1B USD (2023)
DESCRIPTION

Diamondrock Hospitality is a self-advised real estate investment trust (REIT) that is an owner of a portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. Diamondrock Hospitality is based Bethesda, Maryland.

DEAL STATS #
Overall 5 of 10
Sector (Leisure) 4 of 8
Type (Add-on Acquisition) 3 of 8
State (Florida) 1 of 2
Country (United States) 5 of 10
Year (2014) 1 of 2
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-13 The Hotel Rex

San Francisco, California, United States

The 94-room Hotel Rex is one block from the famed Union Square. Leisure and business guests enjoy the Hotel’s convenient location close to the city’s leading retail, dining and entertainment venues as well business demand generators including the Moscone Center, the Financial District and the burgeoning hub of the technology sector in the South of Market (SoMa) District.

Buy $30M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-04 The Westin Beach Resort & Fort Lauderdale

Fort Lauderdale,, Florida, United States

The Westin Beach Resort & Spa, Fort Lauderdale contains 432 guest rooms, 32,000 square feet of meeting space, and a modern spa. The hotel is in excellent physical condition and the Company does not anticipate any major capital improvements in the near-term.

Buy $149M
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