Home » Marathon » Key Colony Bay Resort in Marathon, Florida is Sold

Key Colony Bay Resort in Marathon, Florida is Sold

Baywood Hotels acquired he 80-room Key Colony Bay Resort (formerly the Ramada Inn Marathon), a property located on four acres in the Middle Florida Keys, from The Peebles Corporation.

With RevPAR comparable to Miami Beach, the Florida Keys are a hot market with significant barriers to entry. Following purchases of such assets, most buyers see an opportunity to maximize their investment with significant upgrades, repositioning, and rebranding that transforms the property into an even more attractive destination.

Key Colony Bay Resort
Key Colony Bay Resort

Baywood Hotels, Inc. is one of the fastest-growing and privately-owned hotel management companies in the nation. Established in 1975 with one independent motel in Laurel, MD, Baywood now owns and operates over $800 million in assets. Today, our corporate headquarters is located centrally in Greenbelt, Maryland, a suburb of Washington, DC, with regional offices in Chantilly, VA, Miami, FL and San Antonio, TX.

We are recognized in our regions as an innovative leader in the hotel industry. We create value for our investors starting with product concept and development and ultimately through the outstanding management of our assets.

Our focused vision, strong values and aggressive long-range strategy have helped us develop reputable, well-branded hotels in areas where Baywood has competitive expertise and synergies. Baywood Hotels’ portfolio includes well-known brands, such as Marriott, Hilton and InterContinental Hotels Group, as well as several independent brands. Baywood Hotels employs over 1,000 associates nationwide.


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