Currently known as Crowne Plaza La Concha Hotel, the property will join the major group’s Autograph Collection upon completion of a US$35 million property improvement plan in 2024.
Under a new name of Autograph La Concha, the updated hotel will feature a distinctive theme and style commensurate with the upper-upscale/luxury Autograph product.
Plans include transforming the lobby, bar, and restaurant, as well as upgrading the exterior, guestrooms, guest bathrooms, corridors, pool, and meeting space. As part of the renovation, the previously underutilised spa will be converted into premium rooftop suites.
Ashford, which is a real estate investment trust focused on predominantly investing in upper upscale, full-service hotels, believes that post-conversion, the new Autograph La Concha property could achieve a 20% to 30% RevPAR premium compared to pre-conversion.
Remington Hospitality will continue to be the property manager following the upgrade.
The 160-room hotel is situated on Duval Street in the heart of Old Town Key West and is within walking distance of major attractions, shopping, entertainment, and nightlife.
Originally, developer Carl Aubuchon opened this luxury hotel in 1926 – the first of its kind on Key West. The property was considered to be the height of elegance and modern convenience, boasting marble floors, private baths, luxurious décor, and sweeping ocean views.
Rob Hays, Ashford Trust’s president and CEO, commented: “Ideally located in Old Town Key West, the transformation of this landmark hotel to an Autograph Collection property is expected to elevate the property into a desirable niche in the high-barrier-to-entry, high-RevPAR Key West market.
“We remain focused on maximising the value of our assets and look forward to realising an enhanced financial performance from this property post-conversion.”
Marriott’s Autograph Collection soft brand features a diverse portfolio of approximately 200 independent hotels around the world that reflect a unique vision, design, and environment.
Other Autograph projects underway in Florida include an expansion of the 188-key Epicurean Hotel, Autograph Collection in Tampa. The extension will add new guestrooms and suites, a private lobby, meeting space, and a rooftop terrace, with the overhaul due to complete by the end of this year.
Plus three historic buildings in Jacksonville are being converted into a mixed use site which will encompass the 143-room Autograph Collection Hotel Jacksonville. The development is scheduled to finish in Q4 2024.