Hotel Equities Inks Deal to Develop Residence Inn in Miami Beach
Wednesday January 22nd, 2014 - 9:17AM O
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MIAMI BEACH, FL—Hotel Equities has inked a franchise agreement to develop a new construction $52 million resort-style Residence Inn by Marriott in Miami Beach/Surfside, FL.
Hotel Equities will co-develop the 175-room hotel in conjunction with Hotel Development Partners, a joint venture with IRE Capital. Groundbreaking is scheduled for this month with opening anticipated in late spring 2015.
"Once open, the upscale Residence Inn, in the very exclusive area of Miami Beach, will be a flagship property for Hotel Equities and real win for our associates, guests and investors," said Fred Cerrone, president and CEO of Hotel Equities, "The distinctive resort style building with design touches that reflect the flavor of the area will make the hotel a favorite for both short and longer-term guests seeking upscale suites in the Miami Beach/Surfside market."
Tags: Hotel Equities • Miami Beach • Hospitality • Management Companies •
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.