The IBIS Bay Beach Resort is being put up for sale, according to co-owners Chris Holland and Tony Osborn, who said that the time has come for both of them to step aside to allow another entrepreneur to step in and more fully develop the potential of the last great waterfront site in Key West.
“Tony and I are incredibly proud of what we have achieved since we purchased the property in 2004,” Holland said today. “We believe that the visual impact of being the first waterfront hotel and restaurant everyone sees as they drive into Key West has been a major factor in the success of all the businesses on the site.”
Osborn added, “The current IBIS Bay Beach Resort only touches upon the potential return on investment the site offers the next owner. We are currently only built out 22,000 square feet, leaving another 109,000 square feet of water view space available to be developed! What’s more, our sunrise and sunset views across two harbors are unique in Key West.”
The IBIS Bay Beach Resort is the last remaining waterfront hospitality development site of any scale available in Key West. The property features five acres directly on the water, 81 rooms and suites, a 16-slip marina, a 150-seat restaurant, as well as seafood market and package store. The site is approved for four-story (45-ft) height buildings.
Holland and Osborn emphasized that the resort and all of its businesses will continue to operate as normal pending the sale of the property.