Service Properties Trust Acquires Nautilus Hotel in South Beach Miami
High-End Destination Resort Hotel Located on Irreplaceable Parcel
$25 Million Repositioning in 2024; Will Reopen in Early 2025 Under Sonesta's Lifestyle Brand, The James
Service Properties Trust (NASDAQ:SVC) announced today that it has acquired the 250-room Nautilus Hotel located at 1825 Collins Avenue, Miami Beach, FL for $165.4 million, or approximately $661,600 per key. The Nautilus is a lifestyle oceanfront hotel located in Miami's South Beach neighborhood with 250 guestrooms, including 55 suites, four food and beverage outlets, outdoor pool, spa, fitness center and 17,500 SF of flexible outdoor and indoor event space. The hotel will initially be branded as the Nautilus Sonesta Miam
