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

  •  
Shoppers in California

    Scorching 4 percent growth in Q2, optimism returns

    The much stronger than expected 4 percent rate of annual growth from April through June reported Wednesday by the Commerce Department put to rest fears than the U.S. economy was slipping into low gear.

  • SW La. visitors bureau to conduct tourism study

    The Southwest Louisiana Convention & Visitors Bureau has hired a firm to research how visitors feel about the region and how the local tourism industry can capitalize on travel trends.

  • Raiders owner confirms talks with San Antonio

    Oakland Raiders owner Mark Davis confirmed he has met with San Antonio officials but declined to disclose whether he has any interest in relocating the franchise to Texas.

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