Miami Beach Convention Center Hotel to be Grand Hyatt

Susan Askew
Susan Askew

Miami Beach Convention Center Hotel to be Grand Hyatt:

Mayor announced the hotel flag at State of the City Address

[UPDATED 2:30 pm to reflect comments from Hyatt]

The Miami Beach Convention Center Hotel will be a Grand Hyatt. In making the announcement at his State of the City Address this morning, Mayor Dan Gelber described Hyatt as “a company known for its best-in-class quality, its diversity and inclusion, and its support for arts and culture.”

It will be the second Grand Hyatt in Florida. The first is in Tampa Bay. 

One of the hotel developers, David Martin, said, “The executive leadership, corporate leadership at Hyatt has strong ties and history to Miami Beach, the City of Miami, families like the Pritzker family.”

Martin and his co-developers Jackie Soffer and Craig Robins are all Miami Beach residents. Martin said, “It was important that we brought a brand that not only knew how to run a convention center hotel but also that had strong ties and a commitment to the City.”

Hyatt’s website lists nine convention center hotels including:  Grand Hyatt San Antonio, Hyatt Regency Atlanta, Hyatt Regency Chicago, Hyatt Regency Dallas, Hyatt Regency Denver at Colorado Convention  Center, Hyatt Regency New Orleans, Hyatt Regency O’Hare Chicago, Hyatt Regency Orlando, Hyatt Regency Seattle, Manchester Grand Hyatt San Diego.

Final designs for the 800-room hotel were approved last year. It will be 17 stories, 185-ft tall. David Tarr, senior vice president for Hyatt, attended the Mayor’s Address at the New World Symphony. He said after that the Miami Beach hotel will be one of the largest Grand Hyatts – only two are larger.

“Group meetings is really a strong suit for our company,” he said. "On occasion in key gateway cities and important resort destinations we’ll consider doing a larger project like we’re doing here with Terra and Turnberry.” Martin is co-founder and President of Terra Group. Jackie Soffer is Chairman and CEO of Turnberry. Together they created a joint venture to build the Convention Center hotel. Craig Robins, President and CEO of Dacra is also involved.

Tarr said of Hyatt, “We pick our spots very, very carefully… Miami Beach has always been an important destination for us.”

“Finding opportunities to create great convention center headquarters’ hotels is a core strength of Hyatt,” he said. “We work very, very well with convention centers and opportunities to have a partnership like the City has with this development team are really ideally suited for what we do as a company.”

“For us we’re not trying to grow for the sake of growth. We are very selective, both in terms of the development opportunity to make sure it’s a good fit for one of our brands and that the partners behind it are a group that we have cultural alignment and can do business with,” Tarr said. “If those things don’t line up, we will not do the project. This was an instance where things lined up perfectly, both in terms of city partnership, the sponsorship behind the project, and the brand that we felt was well suited for it.”

“Frankly, because of the focus that the community places on what is done here, it’s not an easy market to get into, the kind of hotels that we felt we wanted to have here,” Tarr said. “So, having the right hotel was important. We were waiting for that opportunity… and we couldn’t have been more excited” about the opportunity to manage the Convention Center hotel.

Martin said the hotel is now in the permitting process and he expects to execute “an early work agreement” with the City soon. “Subject to permitting,” he said he expects shovels in the ground “in the coming months, vertical construction next year, with completion by end of 2023.

With regard to financing, he told RE:MiamiBeach, “We have our own capitalization but we’re structuring that over the next year."

Bill Talbert, President and CEO of the Greater Miami Convention and Visitors Bureau, said his team is working on selling the hotel and he expects to have “bookings to announce soon… people have been waiting for who and when and now we have the who and the when.”

Gelber reiterated his admiration for Hyatt. “The company has a profile that celebrates our culture. Internally it’s an inclusive, diverse place and those reflect our city so it’s not just the service and the beauty, but also the values.”


Rendering: Arquitectonica


 

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