Kolter Hospitality and BH Group have acquired the Crystal Beach Suites Miami Oceanfront Hotel in Miami Beach. The 84-room hotel was acquired by Kolter and BH Group from Crystal Beach and Crystal Beach Development Corp. Other terms were not disclosed.
“Our company is in a long-term growth mode, and we are constantly looking for thoughtful acquisitions to grow our portfolio,” Kolter Hospitality President Scott Webb said in a statement. “The hotel has a dedicated team who will join our family of employees.”
Crystal Beach Suites Miami Oceanfront Hotel is located near Bal Harbor and just north of South Beach. The hotel has 84 suites that have private bedrooms with a fully equipped kitchen, a living area with a pull-out sofa bed, and two large TVs in each room.
The hotel is situated directly on the beach and is near the shops and restaurants of Miami Beach. The boardwalk directly behind the hotel runs along the beach and the ocean.
“We are very excited to be a part of this transformative hotel project and we look forward to progressing with our esteemed partner, Kolter Hospitality,” said Isaac Toledano, CEO of BH Group.