Baywood Hotels has sold the Holiday Inn Doral to the Louisville-based Schulte Hospitality Group for $36 million. The 129 room hotel at 3255 Northwest 87th Avenue was built in 1998 and underwent renovation work in February 2014. Trading for $279,070 per room key, the five-story property includes a 80 parking spaces and a pool. The seller bought the property out of foreclosure in 2012 for $17 million. The sale marks the second purchase for Schulte’s holdings in South Florida, which owns the Hilton Garden Inn in Miramar.
