Activate Hospitality has sold the Delta Hotels by Marriott West Palm Beach for $23.8 million, less than two years after renovating and rebranding the property. The Miami-based company sold the 11-story, 200-room hotel at 1301 Belvedere Road to an affiliate of Toronto’s Palm Holdings, led by Sheetal Kapoor, according to records and real estate database Vizzda. The sale price equates to $118,750 per room.
The deal was brokered off-market in an all-cash transaction by Suraj Dalal and Ahmed Kabani of Miami-based Kabani Hotel Group.
Activate Hospitality, led by Sagar Desai, acquired the hotel and a nearby development site at 1221 Belvedere Road for $24.6 million in a bankruptcy sale in 2023. The hotel itself occupies 3.7 acres and was completed in 1987. The adjacent vacant parcel, covering 2.3 acres and approved for another hotel project, was not part of this transaction.
Sagar Desai stated that Activate rebranded the property from Holiday Inn to Marriott after acquisition: “We renovated it in six months and were able to ramp up the hotel in a very strong market,” he said.
Desai also commented on the decision to sell: “We were able to take advantage of an upswing in the market,” he said. “We are still very bullish about West Palm Beach.” He added that Activate had not initially planned to sell but received an unsolicited offer from Palm Holdings.
Palm Holdings has been expanding its South Florida presence with recent acquisitions including the Element Miami for $20 million in 2022 and the Holiday Inn Fort Lauderdale for $16.7 million last year.
Elsewhere in South Florida’s active hotel market, Bridgeton Holdings purchased the Sheraton Miami Airport Hotel this month for $67.5 million—$25.2 million more than its last sale price in 2015—amid robust local hospitality performance and new developments such as the nearby Miami Freedom Park mixed-use project anchored by Inter Miami CF’s stadium.
