The move was by design as the president of Kolter Hospitality expressed bullish feelings regarding the area's market for travel.
Another hotel in Sarasota has been snatched up by Kolter Hospitality.
The company, a division of the Kolter Group, acquired Embassy Suites by Hilton Sarasota in the city’s downtown district. The 18-story hotel was built in 2018. The acquisition isn’t Kolter Hospitality’s first in the area. The acquisition was announced in a press release and as of April 25, the sale, and price paid for the property, hadn't been recorded in Sarasota County property records.
“This is our second hotel in Sarasota joining the Westin Sarasota, which has been a true success story,” says Scott Webb, the president of Kolter Hospitality, in a release. “We loved the downtown feel of the Embassy Suites by Hilton Sarasota and are honored to add it to our growing portfolio of impressive hotels across Florida.”
The hotel is the fourth to be operated by Kolter Hospitality on the state’s West Coast, which includes the Westin Sarasota, Hyatt Place St. Petersburg and Hyatt Place Coconut Point in Estero.
“We are extremely bullish on the Sarasota market as it is ideal for both tourism and business travel,” Webb says, “but also one of the most beautiful destinations in Florida.”
The Embassy Suites by Hilton Sarasota features 180 suites, a flexible meeting space, garage parking, a full-service restaurant and bar, a business center, a fitness center and a pool. Delray Beach-based Kolter Hospitality is focused primarily on hotel management, development and acquisitions within the hospitality industry.