Beachfront Hyatt Resort Will Convert to Andaz Miami Seaside

Beachfront Hyatt Resort Will Convert to Andaz Miami Seaside

The Confidante Miami Seaside will quickly have new house owners and bear a significant renovations. Sunstone Resort Traders is shopping for the resort, situated on 1.5 acres of oceanfront land in Miami Seaside, for a purchase order value of $232 million.

Following the acquisition, the corporate expects to pursue a full transformation of the property and a rebranding of the Resort to Andaz Miami Seaside. Sunstone at the moment anticipates investing roughly $60 million to renovate all elements of the resort. Andaz properties are vibrant boutique resorts and resorts, and a part of World of Hyatt. Normally situated in prime places, they weave the sights, sounds and tastes of their environment to create a very immersive keep.

Bryan Giglia, Chief Govt Officer, said, “We’re excited to announce our deliberate acquisition of The Confidante Miami Seaside the place we count on to generate important worth by means of an in depth renovation and rebranding of the Resort to Andaz Miami Seaside. Upon completion of the deliberate renovation, we may have remodeled the earnings potential of the Resort and we’ll personal a premier Miami Seaside luxurious resort at a extremely enticing all-in foundation in a resilient, supply-constrained market that has continued to show significant fee development. We’re additionally excited to additional our relationship with Hyatt, one of many world’s premier resort firms, and be a part of the expansion of Hyatt’s luxurious Andaz model.”

The renovation will embody relocating the foyer to create a particular oceanview check-in expertise, re-concepting the meals & beverage shops, reinvigorating the pool and yard recreation space, modernizing the guestrooms, increasing the suite combine, and upgrading the assembly and occasion areas. The renovation work is predicted to start in phases, beginning within the fourth quarter of 2022 with completion and rebranding at the moment anticipated to happen within the first half of 2024. The Resort will stay in operation whereas the renovation is accomplished and can proceed to be managed by Hyatt upon repositioning.

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