OTO Development Acquires Florida’s Best Western Key Ambassador Resort Inn

/OTO Development Acquires Florida’s Best Western Key Ambassador Resort Inn

OTO Development Acquires Florida’s Best Western Key Ambassador Resort Inn

|2018-09-21T12:07:06-04:00September 21st, 2018|

SPARTANBURG SC (September 21, 2018) — OTO Development has taken its first dive into the Florida Keys hospitality market with the purchase of Best Western Key Ambassador Resort Inn. The transaction was completed Monday, September 17, between The Key Ambassador Co. and Spartanburg-based OTO, which is part of The Johnson Group.

"We are delighted to add this popular Key West property to our portfolio of owned hotels," says Corry Oakes, CEO of OTO Development. "This purchase extends the geographic reach of our operations with an ideal location in America's southernmost city."

Originally built in the 1950s, the 100-room Key Ambassador Resort Inn will enjoy its own total refresh over the course of the next 12-18 months. With each of its seven buildings upfitted one at a time, the property will remain open during renovations.

Jaqueline Loring has been named General Manager of the Key Ambassador Resort Inn; the longtime OTO employee previously served as GM of a Residence Inn in Florida.

"For decades, the Key Ambassador Resort has been a Key West destination all its own," Loring says. "It's a privilege to join this property's long-time, loyal staff and I look forward to welcoming visitors to enjoy the lovely ocean views."

Best Western Key Ambassador Resort Inn is located at 3755 S. Roosevelt Blvd. in Key West, Florida. For information, call (305) 296-3500

About OTO Development

OTO Development, part of The Johnson Group, is an award-winning, fast-growing hotel development and hospitality management company. Founded in 2004 and partnering with the Hilton, Hyatt and Marriott brands, OTO's industry leadership position is anchored by a portfolio of excellent hotels staffed by exceptional people. The company currently owns and/or operates ~70 hotels comprising approximately 8,000 room keys. OTO's impressive growth is focused on new urban development projects in core US markets as well as management contracts with clients ranging from publicly traded REITs to private equity firms to high net worth individuals. For more information, visit OTODevelopment.com..

Contact: Diane Jackson

djackson@otodevelopment.com/864.325.6274

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