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Hersha Hospitality, the folks responsible for bringing Hyatt 48Lex and Hyatt Union Square to New York City, have just acquired a new property in Miami Beach--the Courtyard by Marriott Miami Beach Oceanfront. Hersha paid $95 million for the 263-room hotel and its adjacent beachfront which in its former life was known as the art deco hotel, Cadillac Hotel.
The full details of the purchase are here but Hersha does plan on building an additional 93-room all-suite oceanfront tower as well as more meeting space and a parking structure. The construction is expected begin next year and will finish in 2013.
All these fancy new upgrades have us wondering if Hersha will ditch the Courtyard by Marriott brand in favor of a Hyatt Hotel.