Service Properties Trust Acquires Nautilus Hotel in South Beach Miami
Service Properties Trust - Shares of Beneficial Interest (SVC)
Last service properties trust - shares of beneficial interest earnings: 2/28 07:00 am
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Source: Business Wire
High-End Destination Resort Hotel Located on Irreplaceable Parcel$25 Million Repositioning in 2024; Will Reopen in Early 2025 Under Sonesta’s Lifestyle Brand, The James NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) announced today that it has acquired the 250-room Nautilus Hotel located at 1825 Collins Avenue, Miami Beach, FL for $165.4 million, or approximately $661,600 per key. The Nautilus is a lifestyle oceanfront hotel located in Miami’s South Beach neighborhood with 250 guestrooms, including 55 suites, four food and beverage outlets, outdoor pool, spa, fitness center and 17,500 SF of flexible outdoor and indoor event space. The hotel will initially be branded as the Nautilus Sonesta Miami Beach, and undergo a $25 million repositioning commencing in the Summer of 2024 with plans to reopen in early 2025 under Sonesta’s lifestyle brand, The James.Todd Hargreaves, President and Chief Investment Officer of SVC, made the following statement regarding today’
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News
- Service Properties (SVC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
- Service Properties Trust Announces First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Service Properties Trust Announces First Quarter 2024 ResultsBusiness Wire
- Service Properties Trust Announces Quarterly Dividend on Common SharesBusiness Wire
- Service Properties Trust First Quarter 2024 Conference Call Scheduled for Wednesday, May 8thBusiness Wire
SVC
Earnings
- 5/7/24 - Miss
SVC
Sec Filings
- 5/7/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 4/4/24 - Form POSASR
- SVC's page on the SEC website