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Following rumors of a pending sale, Jeffrey Smead, marketing director for Island House, send a message stating, “Island House Has been taken off the market. We are no longer for sale as of today.”
According to Smead, Island House’s owner Jon Allen decide that since he as been unable to find “the right buyer who loves the Island House like we do, he’d rather hold on to the hotel.” Smead was unable to confirm at this time if the property might return to the market in the future.
Opened in 1976, the Island House is one of the the longest continuously operated gay resorts in the world. Allen and his partner Martin Kay purchased the property in 1999 and invested more then $2.5 million in upgrades. Kay’s passing in December 2013, was cited by Allen as one of the reasons for his wishing to sell the property. The asking price for the 34-room resort was $13.5 million.
It will be “business as usual” for the foreseeable future at Island House, said Smead. In August. Island House will be on of the host of Tropical Heat, an annual summer event sponsor by the Key West Business Guild.