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Archive for the ‘Miami’ Category

Pebblebrook Hotel Trust Acquires the Viceroy Miami

Friday, May 27th, 2011
Viceroy Miami

Pebblebrook Hotel Trust (NYSE: PEB) today announced that it has acquired the Viceroy Miami for $36.5 million. The 148-room, luxury, full-service hotel is located in downtown Miami, Florida, in the ICON Brickell complex. The property will continue to be managed by Viceroy Hotel Group ("Viceroy").

"We are pleased to be acquiring the Viceroy Miami at an extremely attractive price and furthering the geographic diversification of our growing portfolio," said Jon Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust. "Miami has historically performed very well in recovery cycles and the distinctive quality and location of the Viceroy Miami creates a very strong investment opportunity for our company. The hotel benefits from its location within the ICON Brickell complex along Brickell Avenue, a high-end business district in Miami. This cosmopolitan area has redefined itself in recent years as the city's work-play epicenter, with upscale residences, shops, restaurants, nightlife … Read the rest

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