Urgo Hotels Acquires Ocean Point Hotel in Pompano Beach, FL

  

POMPANO BEACH, FL./BETHESDA, MD—Urgo Hotels, a major operator, developer and owner of upscale hotels, has acquired for an undisclosed amount the Ocean Point Hotel, a beachfront property in Pompano Beach, Fla.

 It is the ninth hotel the company has added to its owned and managed portfolio in the past 13 months.  The company now owns or operates 26 hotels in the U.S. and Canada.

“This property has outstanding potential and will benefit from our total planned makeover,” said Kevin Urgo, senior vice president of Urgo Hotels. 

“We have enjoyed substantial growth during the recent difficult economy, adding nine hotels to our portfolio through both acquisitions and third-party management contracts, aggregating 1,426 rooms. 

“We continue to have an aggressive appetite for expansion and have the infrastructure in place to continue comfortably at this pace for at least the next several years.  We have the resources and flexibility to invest as a joint-venture partner or in wholly owned projects, as well as provide third-party management.”

The Ocean Point Hotel is situated on approximately two-and–-half acres of oceanfront property with more than 500 linear feet of beachfront at 1208 and 1200 North Ocean Boulevard, as well as a half acre overflow parking lot across the street. 

Contact: Jerry Daly or Chris Daly(703),  435-6293