JV Pays $120 Million For South Beach Hotel

Feb 05, 2020 No Comments by

Menin Hospitality announced that a joint venture between King Street Real Estate GP, LLCWestdale Properties and Cedar Capital Partners has acquired the 200-room Shelborne South Beach Hotel for $120 million. The property will continue to be managed and operated by Menin Hospitality.

In conjunction with the sale, the property has unveiled an extensive renovation of the hotel’s public spaces, guestrooms and Grand El Dorado Ballroom, as well as a refresh of The Drawing Room Bar & Lounge. In partnership with K’Alma Spas, the hotel will also relaunch its GUYandGIRL Spa in the coming weeks.

 

“In an effort to grow and evolve with our loyal and discerning clientele, we embarked on a gorgeous interior refresh to match our top-tier level of service,” said Jared Galbut, Managing Principal of Menin Hospitality. “The newly updated spaces seek to revive the Shelborne’s vintage-chic legacy of luxury, elegance and impeccable service.”

 

“The Shelborne South Beach is a historic Miami Beach icon,” said Ben Leahy, Partner at Cedar Capital Partners. “As new owners, we look forward to maintaining the hotel’s grand reputation as one of the best places to stay in Miami Beach.”

 

 

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