Property records show Florida Certified Sign Erectors were contracted for building signage in May 2023, with the work completed in December at 1223 Boulevard of the Arts. A hotel representative was not immediately available by the Herald-Tribune's print deadline. "First launched in 2018, voco hotels is one of IHG’s fastest-growing brands with more than 100 properties signed and opened globally," the news release on the European hotel changes noted. "The incoming flurry of properties will bring the brand closer to its global ambition of reaching 200 properties in leading urban and leisure locations by 2028.".
IHG Hotels & Resorts (NYSE: IHG) operates about 6,000 hotels across 19 brands in more than 100 countries.
The hotel property was purchased by a San Diego-based real estate firm in December 2021 for $10.7 million, although that is unlikely the full price of the business transaction. Hotel acquisitions often include other property not connected to the real estate. This can include furniture, art work and equipment used on property.
A mortgage on the property that coincided with the property sale totaled $14.6 million, according to property records.
ASFI-Sarasota LLC, a limited liability company managed by Richard Kent of California, bought the hotel. The limited liability company shared the same address as San Diego-based Avistone, which lists Kent as its president.
The property had last sold for $16.8 million in 2016, according to previous Herald-Tribune reporting.
