Hyatt to Acquire Thompson Miami Beach Hotel.
M2 EQUITYBITES-March 24, 2016-Hyatt to Acquire Thompson Miami Beach Hotel
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24 March 2016 - A subsidiary of Chicago, Illinois-based hospitality company Hyatt Hotels Corp.(NYSE: H) has entered into an agreement to purchase the 380-room Thompson Miami Beach Hotel from an affiliate of California-based investment group Geolo Capital, the company said.
The transaction is expected to close in late April, and the hotel will be rebranded as The Confidante upon opening, joining the existing properties in the recently launched The Unbound Collection by Hyattbrand.
The Confidante draws inspiration from the notion of being a trusted friend, providing guests with everything they need for an uncomplicated and timeless Miami Beach experience.
Taking cues from its mid-century modern design, The Confidante will celebrate its unique, storied history, as well as its future, with historical details throughout its spaces, bright colors, whimsical accents, and a relaxed, elegant vibe.
With deep historical roots in Miami Beach,The Confidante is a three-towered property that pays homage to the vibrant feeling of the city in the 1950s. Serving at one time as the tallest modern building in Miami Beach, The Confidante originally opened as the 18-floor Lord Tarleton Hotel on Collins Avenue, making headlines and representing a boom for the city's economy.
In 1955, it reopened as the Crown Hotel and later was converted into a three-tower apartment building. Since 2014, the property has operated as Thompson Miami Beach hotel.
Situated as an oasis in close proximity to South Beach, The Confidantewill feature 30 suites, two restaurants, two heated swimming pools, direct beach access, a rooftop spa, a full service salon, an indoor/outdoor fitness experience, in-room dining, a craft cocktail bar, and a lush tropical garden.
It will also house approximately 35,000+ square feet of indoor and outdoor flexible, multi-functional venue space.
The Confidante will join The Unbound Collection by Hyatt, which has properties around the world.
Hyatt Hotels is a leading global hospitality company with a proud heritage of making guests feel more than welcome.
Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 24, 2016|
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