Related Cos., led by billionaire Miami Dolphins owner Stephen M. Ross, sold the W Fort Lauderdale hotel for a reported $97.65 million to an affiliate of Blackstone Real Estate Advisors. That price comes out to $282,000 a room. Another report put the sales price at $150 million. The S. Florida Business Journal reports the price is hard to pinpoint as hotels not only consist of the real estate but the accompanying operating business. The 346-room hotel is at 401 N. Fort Lauderdale. The hotel is managed by Marriott.

Related Companies and Related Fund Management bought the hotel in 2015 for a reported $90 million, intending to renovate it. Totaling 567,524 square feet, the W Fort Lauderdale was developed on the oceanfront site of 3.8 acres in 2010. It includes numerous restaurants and a spa, as well as sauna facilities and outdoor swimming pool. The W is located 5 minutes on foot from Central Beach.

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