Downtown Sarasota hotel to be demolished, making way for million-dollar condos and a new hotel
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Mar 27, 2025

Kolter Group is moving forward with plans to replace an aging hotel in downtown Sarasota with two glitzy towers — a Hyatt Centric hotel and over 100 condominiums, priced from $1.4 million.

The South Florida developer plans to demolish the Hyatt Regency Sarasota, which notified city and state leaders on Monday that it will close June 1. Up to 101 employees could lose their jobs, though hotel operator Aimbridge Hospitality and Kolter Group said they will work to help the employees find new jobs, including at surrounding Hyatt properties.

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