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Braemar Sells Key West Resort for $190M | Real Estate News
Braemar Hotels is offloading its prized Key West Pier House Resort for $190 million—$1.3 million per room—as part of a sweeping asset sale to fund a $480 million breakup fee with longtime manager Ashford Incorporated. The move includes luxury properties across Florida, Colorado, and California, totaling over $437 million. Braemar’s biggest shareholder is furious, calling the fee “theft” and threatening legal action against Monty Bennett, Ashford’s chairman and former Braemar CEO, who’s now stepping down along with other board members. The sale underscores a booming luxury real estate market…
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