Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a franchise agreement with an affiliate of Robert Finvarb Companies to develop Hyatt South Beach, a hotel to be located at 1600 Collins Avenue in Miami Beach, Fla. An affiliate of Robert Finvarb Companies, led by Robert Finvarb, will develop the property and the hotel will be managed by Island Hospitality Management. Construction of Hyatt South Beach is expected to begin in late 2013, and the hotel is slated to open in 2015.
“We are excited to be bringing the first Hyatt- branded hotel to Miami Beach. Hyatt South Beach will be the ideal location for travelers to enjoy and explore the beaches and multiple attractions of Miami and beyond,” said Robert Finvarb, CEO and founder of Miami-based Robert Finvarb Companies. “Our company’s hotel portfolio spans across major cities throughout the United States and we are delighted to add the strength and innovation of the Hyatt brand to it.”
“Hyatt South Beach will offer a new option for Hyatt guests visiting Miami Beach and will introduce new customers to the Hyatt brand. We are eager to share the Hyatt’s authentic hospitality and unique experiences with them.”
Located in the heart of the South Beach Art Deco District, Hyatt South Beach will offer 105 guestrooms in addition to an outdoor pool, fitness center and 10,000 square feet of prime ground floor retail space along world-famous Collins Avenue. The hotel will be an ideal base for business and leisure travelers visiting South Beach, as it will offer convenient access to the area’s celebrated sandy beaches, Ocean Drive and Lincoln Road dining and shopping areas, as well as the Miami Beach Convention Center.
“We are thrilled to present the modern boutique style of the Hyatt brand to one of the most vibrant, global destinations in the world in collaboration with Robert Finvarb Companies,” said David Tarr, senior vice president, real estate and development for Hyatt Hotels & Resorts. “Hyatt South Beach will offer a new option for Hyatt guests visiting Miami Beach and will introduce new customers to the Hyatt brand. We are eager to share the Hyatt’s authentic hospitality and unique experiences with them.”
As of June 30, 2013, the Company’s executed contract base consisted of approximately 200 hotels across all brands and regions in which Hyatt hotels operate. For more information, please visit www.hyattdevelopment.com.
Hyatt hotels are smaller-sized properties conveniently located in diverse business and leisure areas. With hotels typically ranging from 150 to 350 rooms, Hyatt hotels offer guests the opportunity to experience our hospitality in a vibrant environment. Customers include individual business and leisure travelers, and Hyatt hotels can accommodate smaller scale business meetings and social gatherings.
Robert Finvarb Companies (RFC) is a private real estate investment and development company based in Miami, Florida. Robert Finvarb, founder of the company, started his development career in 2002. Since then, RFC has developed eleven hotels containing approximately 2000 guestrooms that operate under various Marriott brands and are located in six states and the District of Columbia.
Currently, RFC is developing three mixed use projects that contain both hotel and retail components in New York City and South Beach. RFC has a reputation for developing high-quality assets and possesses a track record of success in all market cycles. As a private company, the principals invest their own equity in all projects and are personally involved in all phases of the project. For over a decade, RFC has carefully cultivated its reputation of excellence in the hospitality industry. In addition to developing its projects from the land acquisition stage to their opening, RFC oversees the sales, marketing, accounting and administration functions that are primarily undertaken by its management staff at each hotel with a sophisticated cadre of in-house professionals.
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