Downtown Sarasota’s Hotel Ranola Sold for $2.9 Million
Local businessman and real estate investor Eric Baird has purchased Hotel Ranola, a boutique hotel in downtown Sarasota with 27 units. Built in 1926, the hotel at 118 Indian Place initially catered to snowbirds seeking an escape from harsh Northern winters.
“Today, Hotel Ranola appeals to sophisticated leisure and business travelers seeking a uniquely Sarasota experience,” says Baird, president of Baird Ventures. “We plan to maintain Hotel Ranola’s traditional charm while enhancing its overall appeal.”
Baird Ventures acquired the hotel in January for $2.9 million. Located in the heart of downtown, Hotel Ranola is convenient to a variety of Sarasota attractions, including movie theaters, shops, performing arts, spas, nightlife, dozens of restaurants and the Sarasota bayfront. It’s four miles from Lido Key Beach and The Ringling.
The hotel, which has three employees, offers spacious rooms with urban décor, full kitchens, and walk-in closets. Amenities include a rooftop sundeck.