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HEI Plans $2M Renovation for New Hotel Acquisition

FORT LAUDERDALE, FL-The privately held hospitality investment company bought the 233-room Renaissance Fort Lauderdale Hotel, built in 2001, from Miami Beach-based LNR. Areas to be renovated include guest rooms and public spaces.

By Melissa Bogdany | Updated on September 30, 2004

FORT LAUDERDALE, FL-HEI Hospitality, a privately held hospitality investment firm, has acquired the Renaissance Fort Lauderdale Hotel and plans to spend $2 million on renovations to the three-year-old property.Miami Beach-based LNR sold the property for and undisclosed price. HEI wholly owned subsidiary Merritt Hospitality will manage the hotel. The 233-room property, which has a AAA four-diamond designation, is located at 1617 S.E. 17th St.”The hotel is in excellent physical condition,” Stephen Mendell, executive vice president of acquisitions and development for HEI, Norwalk, CT, says in a statement. “The $2 million in renovations we have planned for the property will be earmarked primarily for updating ‘back-of-the-house’ systems to our immediate standards, with the remainder going to guest rooms and public spaces.”HEI chairman and CEO Gary Mendell adds: “The hotel is convenient to all the area business and leisure attractions–a block and a half from the convention center, three miles from the airport, and a mile from the beaches and area shops–which appeals to a broad client base.”Amenities include wireless Internet service in the public areas and the approximately 10,000 sf of meeting space, a four-diamond restaurant, Darryl and Oliver’s Bistro 17, Starbucks, and a fitness center. Guest rooms have high-speed Internet access.

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