A Boca Raton hotel operator has snapped up the Aloft Fort Lauderdale Airport Downtown for about $33.25 million, adding a fresh-from-2023, airport-and-cruise-crowd-friendly property to its South Florida lineup. The 14-story, 138-room hotel, which opened last year, will now run under the buyer's local management platform.
The sale was first reported by South Florida Business Journal, which detailed the roughly $33.25 million price tag and highlighted the hotel's proximity to Fort Lauderdale-Hollywood International Airport. MHG Hotels, the buyer, confirmed the acquisition on its website and said the asset fits neatly into its growing Florida footprint.
Deal Details And Broker
According to Traded, the transaction, an off-market sale, lists Sanjay, Neal and Hiren Patel of MHG Hotels as the buyers and credits Bryce Cherko of Cherko Fusco Realty as the broker on the deal. Traded records the sale amount at $33,250,000 and notes that the property spans roughly 94,000 square feet and includes 138 keys.
Hotel At A Glance
The Aloft, at 501 Southeast 24th Street, is described on Marriott as a 14-story, select-service hotel that comes with a rooftop pool and an on-site W XYZ bar. Those branded amenities, along with the building's modern finish, have helped position the property as a draw for investors targeting the airport and cruise traffic market.
Who Is MHG Hotels
MHG Hotels, which lists offices in Indianapolis and Boca Raton, operates and develops franchised hotels across the United States and has been steadily expanding in Florida as it builds an airport-area portfolio. The company says the Aloft will join its management and development pipeline as it continues to pursue more regional deals.
Why The Location Matters
Brokers and buyer materials point to the hotel's position between Fort Lauderdale-Hollywood International Airport and Port Everglades as a consistent driver of room demand, especially from cruise passengers and connecting travelers. That steady flow helps explain why investors have been circling newer, branded select-service properties in Broward County.
For Fort Lauderdale, the trade is another sign that investors continue to prize recently built, branded airport hotels that can capture both transient airline guests and cruise traffic. While day-to-day operations at the Aloft may not shift overnight, the sale underscores ongoing consolidation among regional hotel operators and continued appetite for operator-friendly assets in the market.
