ORLANDO—Marriott Vacation Club, a vacation ownership and brand segment of Marriott Vacations Worldwide, has purchased the property known as The Edgewater Hotel in Miami’s South Beach for $23.5 million.
This new property, Marriott Vacation Club, South Beach, is now part of the Marriott Vacation Club Destinations Exchange Program. The move further establishes Marriott Vacation Club’s growth strategy of adding new locations to its portfolio of properties and resorts around the globe, according to the company.
“This dynamic new destination will result in the establishment of another new sales gallery, continuing our strategy of growing our sales distribution centers,” said Stephen P. Weisz, president and CEO, Marriott Vacations Worldwide.
Located on the 1400 block at the north end of Ocean Dr., the property offers 49 studios and suites. Through 2016, Marriott Vacation Club, South Beach will undergo a renovation which will enhance the mix of history with unique contemporary design, according to the company. Separately, Marriott Vacation Club announced that it has terminated its previously disclosed commitment to acquire a 182-unit property in South Beach.