Investor purchases downtown hotel for $2.9 million

Hotel Ranola in downtown Sarasota was built in 1926.

  • By Business Observer Staff
  • | 3:35 p.m. March 21, 2019
  • | 0 Free Articles Remaining!
Courtesy. Businessman and real estate investor Eric Baird purchased Hotel Ranola, a 27-unit boutique hotel in downtown Sarasota.
Courtesy. Businessman and real estate investor Eric Baird purchased Hotel Ranola, a 27-unit boutique hotel in downtown Sarasota.
  • Manatee-Sarasota
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SARASOTA — Businessman and real estate investor Eric Baird has purchased Hotel Ranola, a boutique hotel in downtown Sarasota.

Baird Ventures acquired the hotel in January for $2.9 million, according to a press release. The building has 27 units, with nine units currently being used as hotel rooms and the rest as annual and monthly rentals. 

 

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