When you become a Member of Safe Harbor, you become a Member of our entire portfolio. Suntex Marinas A superior experience on the water. Cap Rate calculated as Hotel Net Operating Income divided by Contractual Gross Sale Price. 4,234 reviews #1 of 5 Restaurants in Stock Island $$ - $$$ American Bar Seafood 6810 Front St, Stock Island, FL 33040-6054 +1 305-293-4041 Website Menu Open now : 11:00 AM - … We looked at some houseboats because it was something fun and different. A definition of Hotel Adjusted EBITDA and a reconciliation to net operating income is set forth at the end of this release. Sunstone expects the stabilized yield on the purchase price of the Hotel to be between 8.0% and 9.0%. The luxury resort and marina, which opened in January 2017, is expected to provide meaningful growth in the near term as it reaches stabilization, and over the long term due to the supply restrictions in the Key West market.". Step back in time and experience the way the Florida Keys used to be – fresh seafood, strong drinks, panoramic waterfront views, outdoor dining and plenty of local characters. The Hotel will operate as an independent property and be managed by Singh Hospitality which has expertise in the local hotel market. Described by the New York Times as the "new old Key West", Stock Island offers an authentic Florida Keys vibe and is home to the Key West Symphony Orchestra, Tennessee Williams Theatre, numerous art galleries, a golf course and outstanding bars and restaurants. Immediate access to the Gulf of Mexico and easy access to the Atlantic Ocean. Projections are subject to risks and uncertainties, including those disclosed in the Company's filings with the Securities and Exchange Commission, which can cause actual results to differ materially from those projected. Data as provided in supplemental financial information reported on the Company's Current Report on Form 8-K, furnished February 21, 2017 and May 2, 2017. At-the-Market Equity Distribution Program Update: Through the date of this release, the Company has issued approximately 4.9 million shares of its common stock at an average price of $16.28 per share for gross proceeds of $79.4 million. Depreciation estimates subject to change based on final purchase price allocations to be completed after asset acquisition. 125 Reviews. Very nice pool where we had a great lunch. The sale price represents a 8.9x multiple on the hotel's Adjusted EBITDA over the trailing four quarters of $3.1 million and a 9.5% capitalization rate on the hotel's net operating income over the trailing four-quarter period. Hurricane Hole Marina Eco (90 Minutes), Sandbar (180 Minutes), and Hurricane Sunset (120 Minutes) Cruises depart from: The Hurricane Hole Marina at 5110 Overseas Hwy., Stock Island, FL 33040 First it’s easy to navigate to the marina, no issues with draft! ... who government owns about a 15 per cent stake in the marina. For Additional Information:Bryan GigliaChief Financial OfficerSunstone Hotel Investors, Inc.(949) 382-3036, Cision Distribution 888-776-0942 Hope Island Resort, Sanctuary Cove, Sovereign Islands and Ephraim Island). The Company currently has $220.6 million remaining under its current ATM authorization. Sunset Marina Of Key West. In addition, the Company announced that it had recently completed the disposition of the 199-room Marriott Park City in Park City, Utah for a gross sale price of $27.6 million. By land we’re only four miles from the Key West International Airport and ten minutes away from the historic district and Duval Street in Downtown Key West. We present the following non-GAAP financial measures that we believe are useful to investors as key supplemental measures of our operating performance: earnings before interest expense, taxes, depreciation and amortization, or EBITDA; hotel Adjusted EBITDA; hotel Adjusted EBITDA margin; and funds from operations contribution, or FFO contribution. About Safe Harbor Marinas Safe Harbor … Who owns which Las Vegas casinos. Like a treasure in paradise, Stock Island Yacht Club and Marina is perfectly situated off the pristine shoreline of the Atlantic Ocean and the crystal clear waters of Boca Chica Channel. We strongly encourage investors to review our financial information in its entirety and not to rely on a single financial measure. Answer 1 of 6: We are looking at vacation rentals in Key West. Safe Harbor Marinas owns and operates the largest family of marinas in the United States. Status: Open. See This Year’s Marina Honorees. With two convenient boat sales locations: in Mashpee, MA on Cape Cod and in Peabody, MA north of Boston, our mission is to provide you with the best products and service – second to none. The Hotel's rooms are spread across four buildings designed with signature Key West conch style architecture and have an average size of 470 square feet—some of the largest rooms available in the market. i /we have read and understand the dealer’s policies, terms, and conditions. Like a treasure in paradise, Stock Island Yacht Club and Marina is perfectly situated off the pristine shoreline of the Atlantic Ocean and the crystal clear waters of Boca Chica Channel. We are coming for 4 days from Tampa. Key West's favorable climate, diverse entertainment and recreational offerings and scenic beauty, make it a favorite year-round destination among travelers. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Copies of these reports are available on our website at www.sunstonehotels.com and through the SEC's Electronic Data Gathering Analysis and Retrieval System ("EDGAR") at www.sec.gov. The area was named after colonial aristocrat Captain Louis Hope, who was granted approximately 1,800 acres (7.3 km 2) of land at the mouth of the Coomera River in recognition of his contribution in developing the sugar industry in Queensland. This additional capital helped fund the Oceans Edge acquisition while allowing us to maintain low leverage and significant investment capacity.". KILLBEAR MARINA COME STAY WITH US! i / we hereby certify that all of the information on this application and all statements made herein are true and correct and that i/we am/are the person(s) on the application and not a misrepresentation. I ’m chatting with Bobby Mongelli, owner of Hogfish Bar & Grill, the delightfully ramshackle Stock Island institution situated on Safe Harbour Marina, roughly a 15-minute drive north of Key West, when a hostess approaches our table to ask, “Are they allowed to have their parrot out here?” In addition, local rate of growth ordinances which limit development in the area create significant barriers to entry for new hotel supply. from 8 AM - 9 PM ET, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. And I don’t want to leave out the staff they are amazing, friendly and helpful! The natural stock pick held by the world’s wealthiest person is Microsoft (NASDAQ: MSFT), the giant tech company Bill Gates co-founded with Paul Allen in 1975. This press release contains forward-looking statements within the meaning of federal securities laws and regulations. Licensed and air conditioned restaurant on site. You won’t find a more state-of-the-art marina facility offering both dry stack and wet slips. Sunset Marina is home to talented Key West fishing guides who offer charters daily.. We cater to sail and power boats. Desmond invested $60m in 120-berth Glossy Bay Marina on Canouan Island. Our Key West location is a perfect setting for weddings, regattas, fishing tournaments, and celebrations of any kind in varying sizes. The largest deep-water marina in the Florida Keys, the Stock Island Marina is... Read More. Completes Disposition of the 199-Room Marriott Park City. 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