Tommy Hilfiger Acquires The Raleigh In Miami Beach
Thursday April 17th, 2014 - 10:33AM EH
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MIAMI—The Raleigh Group, the luxury hospitality group founded by designer and entrepreneur Tommy Hilfiger, has purchased The Raleigh Hotel, Miami Beach.
"The Raleigh Hotel is a true Miami Beach treasure with sophistication and style, making it the perfect property for us," said Hilfiger. "The 1940s design of The Raleigh and its rich history are central to our plans to rejuvenate the property. I'm really pleased with the team I've surrounded myself with and know that we will deliver a world-class experience worthy of The Raleigh brand."
David Pisor, recently appointed CEO of the company, said in a statement, "The location and position of the Raleigh in the Miami Beach marketplace is perfect for our strategy. We will invest significant resources to preserve the property's unique style while embracing the local flavors and culture that help define it."
The Raleigh will become the company's flagship property supporting future growth. Formerly owned by David Edelstein and Sam Nazarian, the Miami Beach location will continue to be managed by the Entertainment Group.
Tags: Tommy Hilfiger • The Raleigh Hotel • Miami Beach • Hospitality • Acquisitions • Ownership •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.