Activate sells West Palm Beach Marriott for $24M amid strong hotel market
Activate Hospitality offloaded a West Palm Beach hotel less than two years after renovating and rebranding it. The Miami-based firm sold the 11-story, 200-key Delta Hotels by Marriott West Palm Beach for $23.8 million to an affiliate of Toronto-based Palm Holdings, led by Sheetal Kapoor, records and real estate database Vizzda show. The buyer paid $118,750 per room for the hotel, at 1301 Belvedere Road. Suraj Dalal and Ahmed Kabani of Miami-based Kabani Hotel Group brokered the off-market, all cash transaction, a news release states. Activate, led by Sagar Desai, bought the 130,400-square-foot building and a development site at 1221 […]This article originally appeared on The Real Deal. Click here to read the full story.
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