The multimillion-dollar sale of a hotel on Miami Beach's coveted Collins Avenue would not typically turn heads. But consider the dilapidated state of the Traymore Hotel, which traded for $18 million in mid-January, and you'll quickly understand why the phrase “location, location, location” has never borne more relevance for the hospitality market in the Southeast than it does today.

Throughout last year and into the first quarter of 2012, we continue to see hotels in desired locations trading at a premium, regardless of their condition. The shuttered Traymore, ideally located in the heart of South Beach, is only one example.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.