HEI Adds Renaissance Fort Lauderdale Hotel To Portfolio

FORT LAUDERDALE, FL— The Renaissance Fort Lauderdale Hotel here has been purchased by HEI Hospitality from LNR, based in Miami, for an undisclosed amount. Merritt Hospitality, a wholly owned subsidiary of Norwalk, CT-based HEI, will manage the hotel. Built in 2001, the 233-room hotel holds the AAA four-diamond designation. The hotel features an island colonial décor and deluxe guestrooms. The hotel represents the fifth property acquired since HEI in June formed the HEI Hospitality Fund, a $275 million private equity investment fund, which plans to acquire up to $800 million of hotels over the next 24 to 36 months.