The Hampton Inn in Plantation, Fla., was reportedly sold for $13 million, a 73-percent premium to its prior deal. Prince-Bush Investments-Plantation sold the hotel to Midas Plantation, an affiliate of St. Louis-based Midas Hospitality. This is Midas Hospitality’s first hotel in Florida. It now owns 20 hotels in 11 states.
The report comes from the South FLorida Business Journal, which writes that the hotel last sold for $7.5 million in 1999, the year it was built. It has 128 rooms.
Midas Hospitality President and CEO Robert Willard said the hotel would undergo a $2.5 million renovation in the second quarter of 2015.
“We are excited about the growth of Midas Hospitality into the South Florida area,” Willard said in a news release. "The addition of the Hampton Inn – Ft. Lauderdale/Plantation, Fla. to the Midas hotel portfolio further reinforces our aggressive, yet strategic, company growth.”
The company assumed a $9.2-million mortgage as part of the deal.