The Days Inn in Islamorada Under Contract – $15M

daysinnislamorada

 

Robert Cvetkovski, who also owns Smugglers Cove in Islamorada, told TRD that he hopes to close on the purchase within three months. He then plans to spend $5 million to renovate the rooms and upgrade the property, including bringing in a new restaurant concept.

The 48-room Days Inn, at 82749 Overseas Highway, is spread over eight buildings, from U.S. 1 to the ocean. According to Monroe County property records, its current owner, Esquire Management. purchased the property in August 1997 for $2.925 million.

robert cvetkovski

Cvetkovski has been targeting hotels in the Florida Keys, with a goal to preserve mom-and-pop establishments and turn them into boutique properties, he said. “I am preserving the natural beauty of what the Keys is all about — the watersports and the outdoorsy things that people go to the Keys for,” he told TRD.

The Carlyle Group, which last year purchased such Islamorada properties as the Postcard Inn Beach Resort at Holiday Isle and the La Siesta Resort, is now “controlling the market,” he said. “I am gobbling up the little ones they didn’t get.”

 

Source: Days Inn | Islamorada | Smugglers Cove | Robert Cvetkovski

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