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Lido Key hotel sells for $62 million

October 24, 2006

pop_index01.jpgThe hotel formerly known as the Radison on Lido Key has been sold for $62,500,000.  The new owner, Ocean Properties Ltd., the largest privately held hotel development company in the U.S. paid 7 times what the previous owned paid for the property in 1994.  It is expected that the hotel will continue to operate but possible with a new franchise affiliation.  The hotel is located on Lido Key at 700 Ben Franklin Drive.  For more information on the hotel property visit http://www.lidobeachresort.com

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