Luxury resort Conrad Miami is up for sale, CBRE announced Thursday.

The 203-key hotel is expected to trade for more than $100 million, said representatives from the commercial real estate firm (NYSE: CBG). It previously sold for $65 million in 2004.

The property, at 1395 Brickell Ave. in Miami, features 20,000 square feet of meeting space, a spa and fitness center, restaurants and bars, two outdoor tennis courts and a rooftop pool. Conrad Miami is part of the Espirito Santo Plaza, which has office space, retail and residences. The 36-story plaza takes up a full city block at 1.2 million square feet.

“Miami’s hospitality market is one of the strongest in the nation, with the average daily lodging rate outpacing cities such as San Francisco and Boston …” said Christian Charre, senior vice president of Miami-based CBRE Hotels in a prepared statement. He and Robert Taylor, Paul Wimer and Natalie Castillo are marketing the property.

Multiple Miami-Dade County hotel properties have recently sold for an amount close to Conrad’s asking price, including the SLS South Beach, which sold for $125 million in June; and the Miami Beach Edition, which sold for $230 million in February and the Dream South Beach hotel, which sold for $70 million in November.

According to the most recent data from STR Inc., Miami-Dade County’s hotel occupancy rate in May was 76.5 percent, down 2.5 percent compared to May 2014. The market has about 50,000 hotel rooms — more than Broward County and Palm Beach County combined.

The county’s average daily rate was $177.08, up 4.6 percent year-over-year. Revenue per available room was $135.40, up 2 percent year-over-year. In April, Miami-Dade County’s occupancy was at 82 percent, its average daily rate was $214.25 and its revenue per available room was $175.74.

Want South Florida Media Marketing news in your inbox?
Sign up for our free email newsletters.