Ritz-Carlton Fort Lauderdale changes hands

 

hsampson@MiamiHerald.com

The Ritz-Carlton Fort Lauderdale, which opened in 2007 as a St. Regis, has sold to new owners.

Affiliates of Gencom, a Miami company that owns other Ritz-Carlton hotels, and Atlanta-based Invesco Ltd. purchased the property from Castillo Grand, the company that developed the project at 1 N. Fort Lauderdale Beach Blvd. The hotel will remain a Ritz-Carlton.

Financial terms of the deal were not disclosed. HFF marketed the property on behalf of Castillo Grand.

The hotel, which has 166 rooms and suites and 34 condo-hotel units, was originally a St. Regis when it opened in 2007. But after St. Regis parent Starwood ended its management contract in 2008, Ritz-Carlton came on board as the operator. The developer was the victor in a lawsuit over the dispute, winning a $43 million judgment.

Read more Breaking News - Business stories from the Miami Herald

  •  
In this photo taken Wednesday April 16, 2014, vehicles are parked outside a factory of SGMW, a joint venture between Chinese carmakers and General Motors in Qingdao in east China's Shandong province. China’s automakers are the underdogs heading into next week’s Beijing auto show, where foreign and domestic brands will jostle for attention in a crowded market. Facing intense competition from General Motors, Volkswagen and other global rivals, local brands such as Chery, Geely and SUV maker Great Wall have seen sales and market share shrink this year while China’s overall market grew. (AP Photo) CHINA OUT

    Chinese auto brands limp into Beijing show

    China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult for homegrown models.

  •  
A cornfield

    Far off? Russia-Ukraine clash echoes through U.S. farm belt

    America’s diplomats and generals aren’t alone in watching the unfolding conflict between Russia and neighboring Ukraine. The U.S. agriculture sector is following the faraway events closely for reasons of both opportunity and risk.

  • ASML sees lull in orders from computer chip makers

    ASML Holding NV, the largest supplier of equipment to computer chip makers such as Intel and Samsung, says it sees only incremental sales gains in the coming two quarters.

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category