91-room beachfront hotel located on “Millionaire Mile” has undergone a top-to-bottom renovation that has elevated a dilapidated property into a 4-star boutique.
Hillsboro, FL (November 14, 2023) – As South Florida bolsters its position among the world’s top tourism destinations, a 91-key hotel in Hillsboro Beach is getting a new lease on life following a multi-million-dollar renovation. Hillsboro Beach Resort, formerly Hillsboro Beach Resort Mile Hotel, was acquired by BH3 Management in 2017. In the years since, BH3 has undertaken an eight-figure overhaul that has ushered in new guest rooms, event spaces, food and beverage outlets, and a beach club. BH3 has enlisted global hospitality management company Sonder (NASDAQ: SOND), and Fort Lauderdale-based Garrett Hospitality Group to run the property’s hotel, dining, and event operations.
Located at 1159 Hillsboro Mile along Florida’s Gold Coast, Hillsboro Beach Resort is the only operating hotel within the town of Hillsboro Beach. The property is set on a tranquil stretch of sand situated minutes away from Fort Lauderdale, Boca Raton and Deerfield Beach. Hotels in the Greater Fort Lauderdale market are experiencing growth in both Average Daily Rate and Revenue Per Available Room (RevPar), which are up 4.5% and 4.9% respectively, according to Visit Lauderdale.
When BH3 purchased the shuttered Hillsboro Mile Hotel, the property suffered from low occupancy rates and below-market room rates. BH3 embarked on a complete renovation, restoring and transforming the sub-standard property to a 4-star boutique hotel. Today, Hillsboro Beach Resort comprises 91 fully renovated rooms and suites featuring stylish décor and modern furnishings, a 24-hour fitness center, resort-style pool deck, private beach access, business center, restaurant, and beach club.
The hotel’s revival is the latest example of BH3’s focus on identifying opportunistic investments and creating value over time. Since 2008, BH3 has invested over $2 billion in capital through its debt opportunity fund. The company has also developed more than 4 million square feet of commercial and residential real estate, with an additional 3 million square feet in the firm’s current pipeline.
“Our team’s experience with Hillsboro Beach Resort is a textbook example of how BH3 uncovers real estate that is ripe for change, and then unlocks value for assets and communities,” said Gregory Freedman, Co-Founder & Co-CEO of BH3 Management. “The hotel benefitted from a stellar oceanfront location but was in dire need of a renovation that would bring it up to today’s market standards. Our investment, along with the leadership of Sonder and Garrett Hospitality Group, will position Hillsboro Beach Resort as a destination for locals and visitors alike.”
Hillsboro Beach Resort becomes Sonder’s sixth managed property along Florida’s Gold Coast and the company’s ninth in Florida. Hillsboro Beach Resort is part of Powered by Sonder, which launched earlier this year and is Sonder’s first dedicated hotel collection, consisting of uniquely designed boutique hotels, powered by Sonder’s technology and operated by Sonder.
“We’re thrilled to add the stunning Hillsboro beach resort to our portfolio in Florida. With an unbeatable position on Boca Raton’s ‘Millionaire Mile’, the property is a laid-back beachfront oasis welcoming guests with stylish design and the latest amenities,” said Khalil Anjarwalla, Area General Manager at Sonder. “We’re excited to continue bringing our design-forward, tech-enabled hospitality to leisure and business guests alike.”
South Florida restaurateur Memphis Garrett will expand his footprint with a new outpost of Ya Mas! Taverna at Hillsboro Beach Resort. The Mediterranean-inspired Ya Mas! will offer a wide array of small plates and mezze platters alongside table-side crafted beverages and large format cocktails. This will be Garrett’s third Ya Mas! location, joining restaurants in Fort Lauderdale and West Palm Beach.
“Ya Mas! Taverna was born out of a love for travel, the art of hospitality, and a need for more diverse dining options in South Florida,” said Memphis Garrett. “Our restaurant will provide a unique experience for diners, and I’m excited to be able to take the Ya Mas brand inside such a beautiful hotel in an amazing town like Hillsboro Beach.”