B&B Hotels has acquired The Onyx Hotel Miami Airport for $16.2 million and plans to rebrand it as the B&B Hotel Miami Airport. The six-story hotel, currently operating as a Holiday Inn Express, spans 54,027 square feet and was sold by Onyx Hospitality. Bluebird Credit provided an $11 million loan to facilitate the purchase.
Originally built in 1986 on a 1.11-acre site, this is the first time that the property has been sold. According to reports from S.Florida Business Journal, Ahmed Kabani and Luis Garino of Kabani Hotel Group brokered the deal at a rate of $147,272 per room.
With over 770 hotels across 17 countries specializing in affordable properties,B&B Hotels is making its debut into US market with this acquisition along with another one in Orlando.
