Hyatt to buy Thompson Miami Beach Hotel, add to Unbound
 
Hyatt to buy Thompson Miami Beach Hotel, add to Unbound
24 MARCH 2016 8:25 AM

Hyatt Hotels Corporation announced plans to purchase the Thompson Miami Beach Hotel, which will be rebranded as The Confidante and added to the Unbound Collection.

CHICAGO--Hyatt Hotels Corporation (NYSE: H) today announced that a wholly-owned subsidiary has entered into an agreement to purchase the 380-room Thompson Miami Beach hotel from an affiliate of Geolo Capital. 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 Hyatt brand.

“The acquisition of this high-quality hotel allows Hyatt continued strategic growth in a critical market for both the company and for our newest brand, The Unbound Collection by Hyatt,” said Stephen Haggerty, global head, real estate and capital strategy for Hyatt. “We are thrilled to expand our presence in Miami Beach, a market in which we have great unmet demand from our guests. The property will have the freedom to establish and maintain its individuality and distinct character while benefiting from the operational excellence and efficiencies that come from being part of Hyatt.”

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.

“The Unbound Collection by Hyatt is all about giving the properties within this brand the freedom to be extraordinary and providing guests with the social currency and story-worthy experiences they crave. The Confidante’s rich history steeped in Miami Beach’s golden era will do just that,” said Maryam Banikarim, global chief marketing officer for Hyatt. “It will provide a playful and sophisticated backdrop, much like a friend’s beach house, where guests can get away and relax while enjoying the vibrancy and energy of Miami Beach.”

Situated as an oasis in close proximity to South Beach, The Confidante will 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, including The Driskill Hotel in Austin, Texas; the Hôtel du Louvre in Paris, France; the Carmelo Resort & Spa in Carmelo, Uruguay; and the Coco Palms Resort in Kauai, Hawaii, which is expected to undergo a revitalization and re-open in spring 2018. As with all properties in The Unbound Collection by Hyatt, The Confidante will maintain its distinct character while providing guests and owners Hyatt’s award-winning customer loyalty program, robust operational and marketing resources and trusted, quality brand.

For more information about The Unbound Collection by Hyatt, click here.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

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