News out of Miami. (And we’re not talking about the hospitality game-changer Faena Hotel Miami Beach). The Ritz-Carlton Coconut Grove, Miami—a long-time landmark in Miami’s Coconut Grove district—has been acquired by Hersha Hospitality Trust for $36 million. To quote The Miami Herald, “At a time when hotels in Miami-Dade are struggling, Philadelphia-based Hersha Hospitality Trust is betting on the future of the local hotel industry.”
Hersha currently owns and operates 53 hotels in the United States, including six in South Florida. To be continuously operated as a Ritz-Carlton branded property, the hotel is slated to get a $10 million renovation; think new rooms, an upgraded spa, and the addition of a destination cocktail bar and a restaurant reinvented by “an exciting new operator.”
As reported by The Miami Herald, Hersha President Neil Shah said, “We intend to breathe fresh air into this unique, waterfront urban resort.” Located at 3300 SW 27th Avenue, The Ritz-Carlton Coconut Grove, Miami has 115 balcony-equipped guestrooms which will soon be refreshed. Resort facilities include a 6,000 square foot spa with six treatment rooms, a fitness center, a heated lap pool, a business center, a ballroom and outdoor function space including the Fountain Terrace, Piazza San Marco, Botticelli Terrace and Cabana 33. Note that The Ritz-Carlton, Coconut Grove is a designated Florida Green Lodging property with environmental initiatives like a recycling program and the use of high-efficiency lighting throughout the hotel.
In other exciting hotel news out of Miami, the Four Seasons Surf Club is expected to open this spring, followed by Fasano Hotel, Residences and Shore Club in late 2017.