The Raleigh Hotel Gets Dumped By Andre Balazs
The Raleigh Hotel in South Beach probably won't be getting any more visits from its hunky hotelier, Andre Balazs. The Miami Herald reports that Balazs is close to selling the hotel in favor of doing more Standard-brand positioning. And the sale is nearly done:
The New York hotelier behind The Standard hotel chain said he has a buyer for the 104-room Raleigh and that both sides are all but agreed to a price. He expects the deal to become official within four weeks.
``We've accomplished what we wanted to,'' Balazs said of his seven years with the Raleigh, 1775 Collins Ave., a favorite stop for celebrities and local hipsters.
And while Balazs recently sold off The Standard Miami, his company continues to manage the property--something he is not interested in doing with The Raleigh. But he will take the cash from the sale and start investing it in the Caribbean. So will the Maison Tropicale finally see the light of day? We hope so.