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Category: Resort & Recreational
Property Location: ½ mile West off Bonaventure Blvd.
on Racquet Club Rd.
County: Broward
Property Size: 23 acres
Occupancy: N/A
Minimum Divisible Space: N/A
Maximum Contiguous Space: N/A
Total SF Available: N/A
Outparcels: N/A
Availability: N/A
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www.bonaventure.hyatt.com
In October, 2004, Ireland Companies formed a partnership that purchased the Bonaventure Resort Hotel and Spa in Weston, Florida. Soon after its purchase, Ireland Companies embarked on an ambitious $95 million complete renovation of the guest rooms, spa, hotel and conference center into an "as new", four-star facility. This work was completed in January, 2008. A completely new Red Door Lifestyle Spa by Elizabeth Arden was also constructed and opened at a cost of $10 million.
The facility was converted into a hotel condominium with 256 total units (representing 501 hotel room keys). The Ireland Companies partnership retained 138 units (270 keys) while 118 units (231 keys) were sold as condominiums to third-party owners. To date, all of the third-party owners have placed their units into a hotel rental program, a revenue-sharing arrangement administered by the hotel manager.
A management agreement was completed with Hyatt Hotels, who began operating the facility in September, 2006. Elizabeth Arden Red Door Spas is under a management agreement for the Spa facility, and commenced operations in July, 2006.
The property was originally constructed in 1982 and contains 23 acres surrounded by lakes and golf courses. There are nine individual four-story residential buildings located around the Main building which contains the hotel reception facilities, restaurants and the conference center (83,000 square feet of meeting and function space). The 42,000 square foot Spa building is located adjacent to the Main building. The nine guest room buildings contain between 28 and 33 units each. The nine buildings contain a total of 256 condominium units with 264,600 sq. ft. of air-conditioned area broken down as follows:
• 103 - 2 bedroom / 2 bath "A" units containing 1,291 sq. ft. each.
• 145 - 2 bedroom / 2 bath "B" units containing 869 sq. ft. each.
• 4 - 1 bedroom suite / 1 bath "D" units containing 846 sq. ft. each.
• 4 - 1 bedroom suite / 1 bath "E" units containing 446 sq. ft. each.
There are 730 surface parking spaces including 300 overflow spaces located on a three-acre site across the street from the spa building.
In addition to the above, a site plan is being processed in the City of Weston for an additional 250 hotel rooms to be constructed as a second phase of the project. Approval is expected during 2008.
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1 Mile |
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3 Miles |
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Population 2010
Avg. Income 2010
Median Age 2010
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12,510
$79,205
37.7 yrs |
60,080
$113,329
35.5 yrs
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| M. Scott Ireland |
Ireland Companies |
| Tel: 305 891 6806 ext. 307 |
12000 Biscayne Boulevard |
| Fax: 305-895-8241 |
Penthouse 810 |
| Email: mscott@irelandco.com |
Miami FL 33181-2742 |
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