LHC expands Dean Group within the US with Florida acquisition

US: Funding administration platform Way of life Hospitality Capital (LHC) has acquired The Gates Resort South Seashore in Florida which is able to turn out to be the US flagship of the Dean Group.

The 235-room lodge will bear a renovation and rebrand as The Dean Resort – Miami Seashore. It marks the debut of Dean Group in the US.

Deutsche Financial institution reportedly offered an $83 million mortgage for the deal.

When full, the lodge will be part of Dean-branded properties in Dublin, Cork and Galway. 

Keith Evans, founder and CEO of LHC, stated: “We’re thrilled to have acquired such a high-profile lodge within the fast-evolving Miami Seashore lodge market. The Gates Resort South Seashore provides important potential for repositioning into one among Miami’s main life-style inns. That is an thrilling first transfer for the Dean model because it begins to construct its presence throughout the US, following the current enlargement of the Dean Group into Munich and Berlin.”

Final yr, LHC – backed by funds suggested by Elliott Funding Administration – acquired a majority stake within the Dean Group.

In October, LHC acquired the Roomers Munich Resort which marked the primary lodge in Europe to be operated by the group. Max Brown Berlin adopted in November. 

Different life-style inns within the Dean Group portfolio contains The Clarence, The Mayson and The Leinster in Dublin, in addition to eating places and bars similar to Sophie’s, Ryleigh’s and Layla’s in Europe.