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Report: Brookfield unit looking to sell Fla. resort for $1B

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Report: Brookfield unit looking to sell Fla. resort for $1B

Brookfield Asset Management Inc. subsidiary Thayer Lodging Group Inc. is selling the 1,000-room Diplomat Beach Resort in Hollywood, Fla., which could fetch a price of up to $1 billion, Bloomberg News reported, citing people privy to the matter.

Newmark Knight Frank and Hodges Ward Elliott are marketing the South Florida resort, according to one of the unnamed people who requested to remain anonymous.

The resort, which includes over 200,000 square feet of meeting space, underwent a $100 million renovation after Thayer acquired the property in 2014, the news outlet noted. The renovation converted the former Westin to a soft-branded property in Hilton Worldwide Holdings Inc.'s Curio Collection.

Brookfield, Newmark Knight Frank and Hodges Ward Elliott representatives did not offer comment on the matter.