WoodSpring Suites Breaks Ground on Hotel in Miami

MIAMI—WoodSpring Hotels and Gold Coast Premier Properties, LLC have broken ground on the WoodSpring Suites hotel near Zoo Miami.

“It has been a great experience working with WoodSpring Hotels. They are a strong competitor in the extended-stay segment, and we’re excited to capitalize on their unique operating model that focuses on the bottom line and in turn offers strong returns,” said Raul Garcia, president of Gold Coast.

The projected opening date for the hotel is 3Q 2016. Located at Coral Reef Dr. and parallel to the Florida Tpke., the hotel will be built as a prototypical 124-room WoodSpring Suites and feature guest amenities such as laundry facilities, modified kitchens and high-speed Internet. This is the first of two planned WoodSpring Suites hotels under development by Gold Coast. The second location, which will be built in the Doral submarket of Miami, is slated to be a WoodSpring Suites Signature hotel.

“WoodSpring Suites is unique in terms of our operating model and the fact that the majority of our company’s revenues are derived from hotel operations and not fees,” added Ron Burgett, EVP of development at WoodSpring Hotels. “Because we own and operate more than 80 hotels, we place an extraordinary emphasis on profitability and minimizing costs at our hotels. Our focus on getting revenue to the bottom line is one of the factors that allow us to attract high-caliber developers like Gold Coast.”