HODGES WARD ELLIOTT ADVISES ON THE RECAPITALIZATION OF THE RITZ-CARLTON, KEY BISCAYNE, MIAMI

Hodges Ward Elliott (“HWE”) is pleased to have represented GB Key Biscayne Holdings, LLC, in the sale of a majority interest in the Ritz-Carlton Key Biscayne, Miami (the “Ritz-Carlton”) to Carey Watermark Investors Incorporated. The Ritz-Carlton includes 302 resort guest rooms and 188 condo hotel keys (174 of which currently participate in the resort rental program). The resort features 50,000 square feet of indoor and outdoor meeting space, a newly renovated 20,000 square foot spa, two pools, a fitness center, a tennis center with 11 courts and five primary food and beverage outlets. The hotel will continue to be managed by The Ritz-Carlton Hotel Company.

 HWE is the leading hotel brokerage and investment-banking firm in the country providing total capital solutions, including hotel sales, recapitalizations and debt placement for our clients.  Over the past 5 years, HWE has sold or financed more than $17 billion of hotels and resorts across the U.S. and Europe including more than $2.2 billion since January 1, 2015.