Barcelona Investor Buys Historic Miami Beach Hotel for $20M

The six-story building features 71 rooms and the Il Bolognese Italian restaurant on Ocean Drive

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Grupo Hotusa paid $19.7 million for a historic hotel on Miami Beach’s Ocean Drive, property records show. 

The six-story building houses 71 rooms and the Italian restaurant Il Bolognese on the ground floor at 1400 Ocean Drive, adjacent to 14th Street, toward the northern end of the promenade. 

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Late architect Albert Anis designed the 28,286-square-foot Art Deco building, which was completed in 1939. Grupo Hotusa has already renamed the property under its Eurostar brand. The Barcelona-based hospitality investor also operates the nearby 126-room Eurostars Langford in Downtown Miami. 

The seller of the Miami Beach property, Hersha Hospitality Trust (HHM Hotels), purchased it for $15.7 million in 2013, according to property records. 

The deal marks at least the second time HHM Hotels has offloaded a historic Miami Beach hotel for sale this year. In May, the Pennsylvania-based investor sold the Blue Moon Hotel along Collins Avenue for $17 million to Blue Suede Hospitality Group

The deals came a year after KSL Capital Partners acquired HHM Hotels for about $1.4 billion and delisted the company from the New York stock exchange.

Representatives for KSL Capital Partners and Grupo Hotusa did not immediately respond to a request for comment. 

Julia Echikson can be reached at jechikson@commercialobserver.com