MIAMI-A Greenbelt, MD-based hotel group has acquired the long vacant Royal Polo Hotel here for $12.5 million.
Baywood Hotels, a hotel management company that operates five other hotels in South Florida, closed on the sale with seller Jonathan Plutzik earlier this month, according to the Miami Herald. Plutzik owns the Betsy hotel in South Beach. Jones Lang LaSalle's Hotels & Hospitality Group arranged the sale
The property at 2940 Collins Ave. is currently a shell but has been approved for 96 rooms. See story in the Miami Herald.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
