NexGen acquires Maritime Hotel Fort Lauderdale in Florida
It marks NexGen's second acquisition of the year, following the 137-room Hotel Versey in Chicago in May
By Vishnu Rageev RNov 14, 2024
NEXGEN HOTELS RECENTLY acquired The Maritime Hotel Fort Lauderdale Airport & Cruiseport in Fort Lauderdale, Florida. The 150-room hotel will be renovated and rebranded as the Moor Hotel at Marina Bay, a Tribute Portfolio Hotel, with completion expected by the third quarter of 2025, NexGen said in a statement.
Itasca, Illinois-based NexGen is led by Chris and Ron Patel as principals. This is their second acquisition this year, following the 137-room Hotel Versey in Chicago, Illinois, in May.
“NexGen Hotels is always striving to bring top-tier properties into our portfolio, and with this acquisition and conversion, it’s a testament to our focus on obtaining diversified brands for our investors,” said Chris Patel. “The Moor Hotel at Marina Bay, a Tribute Portfolio Hotel, represents a new standard for design and hospitality in the Fort Lauderdale area.”
The property is in the 25-acre Marina Bay Resort, near Hollywood-Fort Lauderdale International Airport and Port Everglades Cruise Terminals. It is also close to Sawgrass Mills Outlet Mall, Flamingo Gardens, Bonnet House Museum & Gardens, the Museum of Discovery & Science, Seminole Hard Rock Hotel & Casino Hollywood, Hard Rock Stadium, Everglades Holiday Park and Fort Lauderdale beaches.
Founded in 2007, NexGen Hotels has a portfolio of about 20 hotels across the Midwest, Florida, and California, with brands under Marriott International, Hilton Hotels & Resorts, InterContinental Hotels Group, Best Western Hotels & Resorts, Hyatt Hotels Corp. and Wyndham Hotels & Resorts. The company also owns and manages restaurants, assisted living facilities and retail centers.
Sonesta launched Americas Best Value Studios, an extended-stay version of ABVI.
The model targets owners seeking limited front desk and housekeeping.
The brand meets demand for longer-term, value-focused stays.
SONESTA INTERNATIONAL HOTELS Corp. launched Americas Best Value Studios by Sonesta, an extended-stay version of its franchised brand, Americas Best Value Inn. The model targets owners seeking limited front desk and housekeeping, optional fitness center and lobby market along with standard brand requirements.
The brand aims to address the growing demand for longer-term, value-driven accommodations, Sonesta said in a statement.
"Americas Best Value Studios by Sonesta represents a strategic evolution of our trusted Americas Best Value Inn brand," Keith Pierce, Sonesta’s executive vice president and president of franchise development, said. "We are expanding our offerings to directly address the increasing demand within the extended-stay segment, providing a practical solution for travelers seeking longer-term lodging at value. This new brand type allows our local franchised owner-operators to tap into a growing market while maintaining the community-focused experience that Americas Best Value Inn is known for."
ABVI has a majority presence in secondary and tertiary markets, the statement said.
The extended-stay brand’s operational model features a front desk, bi-weekly housekeeping, on-site laundry and pet-friendly accommodations, Sonesta said. Guests can also earn or redeem points through the Sonesta Travel Pass loyalty program.
In August, Sonesta named Stayntouch its preferred property management system after a two-year review of its ability to support the company’s franchise model. The company operates more than 1,100 properties with more than 100,000 rooms across 13 brands on three continents.
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