W SoBe Owner and SLS Master Finally Admit To Buying Miami’s Raleigh Hotel
Today, David Edelstein – owner of W South Beach – and Sam Nazarian – the wizard behind the sbe brand and owner of the new SLS Hotel South Beach announced plans to join ranks and buy Miami’s Raleigh Hotel.
Now, when we chatted over this in August, no one wanted to make an official comment. It was like some weird FB relationship status--"I won't change mine until you change yours!" OK. Now we know you're together.
Both men, famous for their hotel business savvy, will scoop up the landmark Raleigh from the Brilla Group and set out to revamp the Art Deco property that was the place to be when it opened in the ‘40s on Collins Avenue.
Listen, this is a powerful partnership—Edelstein is known for the trendy W hotel and developing such areas as Miami’s Lincoln Road mall, and Nazarian’s sbe group has dominated the swank SLS brand for a minute. Big $$ and big dream at work, here.
But, will these forward thinkers respect and keep the hotel’s historical identity in mind?
The answer right now appears to be yes. The extensive renovation plan will preserve, refresh, but respect the hotel’s existing framework before adding any glitz and glam that the area—and its patrons will no doubt demand from a new hot spot with the Nazarian name on it.
Nazarian’s sbe Hotel Group will assume full operational control of the property this month and, working with Edelstein, will begin renovations in April 2013 that expect to conclude in November. The hotel will remain fully operations during the process.
The first areas to be revamped will be the guestrooms, followed by the lobby and other common areas. The duo will retain partnership with James Beard award-winning chef Michael Schwartz of Michael’s Genuine Food & Drink, who is expected to introduce a new restaurant at the hotel in 2013.
If this revamp is a success, it’s said additional Raleigh hotels will open in other markets around the country.
[Photo:HotelChatter]
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