KEY WEST, Florida— Ashford Hospitality Trust recently announced that its Crowne Plaza La Concha Hotel in Key West, Florida, is on track to convert to a Marriott Autograph Collection property in 2024, at which time it will be rebranded to Autograph La Concha.
The conversion of the Key West hotel to an Autograph Collection property will occur upon the completion of a $35 million renovation.
The planned conversion will create a distinctive theme and style for the hotel that aligns with the upper-upscale/luxury Autograph product. The project scope includes transforming the lobby, bar, and restaurant, as well as upgrading the exterior, guestrooms, guest bathrooms, corridors, pool and meeting space. As part of the renovation, the previously underused spa will be converted into premium rooftop suites.
The company expects the new Autograph La Concha property could achieve a 20% to 30% RevPAR premium post-conversion compared to pre-conversion, and Remington Hospitality will continue to be the property manager.
“Ideally located in Old Town Key West, the transformation of this landmark hotel to an Autograph Collection property is expected to elevate the property into a desirable niche in the high-barrier-to-entry, high-RevPAR Key West market,” commented Rob Hays, Ashford Trust president and CEO. “We remain focused on maximizing the value of our assets and look forward to realizing an enhanced financial performance from this property post-conversion.”
The 160-room hotel is located on Duval Street in the heart of Old Town Key West and is within walking distance of major attractions, shopping, entertainment and nightlife. It is also centrally located near numerous water-sport opportunities including beaches, diving and snorkeling. Nearby attractions include Mallory Square, The Hemingway Home and Museum, Truman Little White House and Mel Fisher Maritime Museum.
A unique and historic property, developer Carl Aubuchon opened the luxury hotel in 1926 – the first of its kind on Key West. The hotel was considered to be the height of elegance and modern convenience, boasting marble floors, private baths, luxurious décor and sweeping ocean views. Many notable guests have stayed at the landmark hotel over the years, including Ernest Hemingway, Tennessee Williams and Harry Truman.
Ashford Hospitality Trust is a real estate investment trust focused on investing predominantly in upper upscale, full-service hotels.
For more information, visit marriott.com.