M&A Deal Summary

Diamondrock Hospitality Acquires The Westin Beach Resort & Fort Lauderdale

On December 4, 2014, Diamondrock Hospitality acquired leisure company The Westin Beach Resort & Fort Lauderdale for 149M USD

Acquisition Highlights
  • This is Diamondrock Hospitality’s 5th transaction in the Leisure sector.
  • This is Diamondrock Hospitality’s 2nd largest (disclosed) transaction.
  • This is Diamondrock Hospitality’s 6th transaction in the United States.
  • This is Diamondrock Hospitality’s 2nd transaction in Florida.

M&A Deal Summary
Date 2014-12-04
Target The Westin Beach Resort & Fort Lauderdale
Sector Leisure
Buyer(s) Diamondrock Hospitality
Deal Type Add-on Acquisition
Deal Value 149M USD

Target

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.

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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 6 of 10
Sector (Leisure) 5 of 8
Type (Add-on Acquisition) 4 of 8
State (Florida) 2 of 2
Country (United States) 6 of 10
Year (2014) 2 of 2
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-02 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.

Buy $48M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-24 The Shorebreak Hotel

Huntington Beach, California, United States

The Shorebreak Hotel is a premier beachfront hotel located on the renowned Pacific Coast Highway ("PCH") overlooking the Pacific Ocean. Designed as a unique surfing-inspired resort, the Hotel features 157 well-appointed guestrooms, including 37 suites, and the popular Zimzala Restaurant & Bar.

Buy $59M
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