Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a franchise agreement with an affiliate of Robert Finvarb Companies to develop Hyatt South Beach, a hotel to be located at 1600 Collins Avenue in Miami Beach, Fla. An affiliate of Robert Finvarb Companies, led by Robert Finvarb, will develop the property and the hotel will be managed by Island Hospitality Management. Construction of Hyatt South Beach is expected to begin in late 2013, and the hotel is slated to open in 2015.
“We are excited to be bringing the first Hyatt- branded hotel to Miami Beach. Hyatt South Beach will be the ideal location for travelers to enjoy and explore the beaches and multiple attractions of Miami and beyond,” said Robert Finvarb, CEO and founder of Miami-based Robert Finvarb Companies. “Our company’s hotel portfolio spans across major cities throughout the United States and we are delighted to add the strength and innovation of the Hyatt brand to it.”
Located in the heart of the South Beach Art Deco District, Hyatt South Beach will offer 105 guestrooms in addition to an outdoor pool, fitness center and 10,000 square feet of prime ground floor retail space along world-famous Collins Avenue. The hotel will be an ideal base for business and leisure travelers visiting South Beach, as it will offer convenient access to the area’s celebrated sandy beaches, Ocean Drive and Lincoln Road dining and shopping areas, as well as the Miami Beach Convention Center.
“We are thrilled to present the modern boutique style of the Hyatt brand to one of the most vibrant, global destinations in the world in collaboration with Robert Finvarb Companies,” said David Tarr, senior vice president, real estate and development for Hyatt Hotels & Resorts. “Hyatt South Beach will offer a new option for Hyatt guests visiting Miami Beach and will introduce new customers to the Hyatt brand. We are eager to share the Hyatt’s authentic hospitality and unique experiences with them.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts