If there’s one U.S. destination that’s remained remarkably hot throughout much of the pandemic, it’s Miami Beach.
And luxury hotel developers have taken note: The market is awash with major hotel upgrades and new development.
One of the marquee projects is a revamp of the Raleigh Hotel at 1775 Collins Ave., which will join the Rosewood Hotels & Resorts brand by 2025.
Up the road, preliminary plans from Miami Dolphins owner Stephen Ross call to acquire and redevelop the site of the former Deauville Beach Resort at 6701 Collins Ave.
A major rebuild and restoration of the storied Shore Club at 1901 Collins Ave. into a boutique hotel and residences is also in the works, with new owners planning to tear down the newer structures on the site and restore the original, circa-1950s art deco buildings.
Similarly on track for a refresh is the Delano South Beach at 1685 Collins Ave., part of Accor’s Ennismore arm, which like the Shore Club has been shuttered since the early days of the pandemic. Acquired by Cain International in late 2020, the real estate investment firm announced plans for a “strategic repositioning” of the property.
Whether it will remain flagged under the Delano name remains unknown, however, with Ennismore telling Travel Weekly that it has no information “as to what ownership intends to do with the asset.”
Meanwhile, Developer OKO Group revealed plans for an Aman property at the site of the former Versailles Hotel at 3425 Collins Ave. Also planting a flag is luxury player Bulgari Hotels & Resorts, whose planned Miami Beach outpost, set to open at 100 21st St. in 2024, will also be the brand’s first in the U.S.
Miami Beach’s continued upscaling has helped spur a flurry of additional renovation projects, said Steve Adkins, chairman of the Miami Beach Visitor and Convention Authority.
“I think you’re going to see more remodeling and scaling up taking place across the beach, because if you’re not the best in your class, it’s going to be tough for you to retain that traveler when they have other options,” he said.
The Confidante Miami Beach, a midbeach resort located at 4041 Collins Ave., for example, is currently undergoing a roughly $60 million refresh and is on track to relaunch under Hyatt’s luxury Andaz flag by 2024.
“These types of hotels are going to help propel Miami and [cater to] clients that typically travel overseas to find that ultraluxury product,” said Albert Andrew Valera, founder of Miami-based agency Everything Travel Guy. “If someone tells you that it’s $2,000 a night for a junior suite, people won’t bat an eye anymore, because the level of product that’s coming in is going to warrant $3,000 a night.”
Source: Travel Weekly