Thayer Lodging Group, a Brookfield Company, and its institutional partners, have acquired the Westin Diplomat Resort & Spa in Hollywood, Fla.
The Company announced the property will be renamed the Diplomat Resort & Spa and will join Hilton Worldwide's newest brand, Curio – A Collection by Hilton, in October 2014. Thayer will also embark on a $100 million enhancement initiative for the oceanfront property later this year.
The resort was acquired from the Plumbers & Pipefitters National Pension Fund, which redeveloped the property on the site of the historic, former hotel of the same name. As part of the transaction, the Diplomat Golf & Tennis Club was acquired by Concord Wilshire, a real estate development company. The resort and the golf properties will work closely with each other to serve their guests and continue presenting luxury experiences.
The hotel remains open and fully operational and will continue to conduct business as usual during the transition. All existing guest reservations will be honored.