Raleigh sale to Tommy Hilfiger closes

 

hsampson@MiamiHerald.com

Fashion designer Tommy Hilfiger’s purchase of the iconic Raleigh Hotel closed Friday.

The purchase price for the 105-room hotel at 1775 Collins Ave. has not been disclosed. The property last sold in December of 2012 for $55 million to David Edelstein, developer and owner of the W South Beach, and Sam Nazarian, the founder, chairman and CEO of Los Angeles-based sbe.

A “transformational renovation” is planned for the hotel, which will remain under the management of sbe. Commercial real estate investment banking firm HFF, which marketed the property on behalf of he owners, announced Friday that the deal had closed.

Max Comess, a director in the hotel group at HFF, said in an interview that Hilfiger’s purchase — as well as sales of the St. Regis Bal Harbour and under-construction Edition hotel in Miami Beach in the last several months — show how important the region has become to hotel investors.

“These investors are willing to take big bets in Miami,” he said. “It’s really key to their overall global brand growth strategy. If you’re not in Miami Beach, it’s hard to be taken seriously on the global scale as either a brand or international hotel investor.”

Read more Business stories from the Miami Herald

  •  
 <span class="cutline_leadin">HAPPY DANCE:</span> Commissioner Jose “Pepe” Diaz dances with Ileana Quevedo, employee of IKEA during the opening ceremony of IKEA in Sweetwater on Wednesday.

    New IKEA opens its doors

    Several thousand people were in line by the time IKEA opened its first store in Miami-Dade County — and its second largest store in the United States — at 9 a.m. on Wednesday, with free giveaways for the first visitors in line. More than 200 customers had camped out overnight, awaiting the Sweetwater store’s opening, said IKEA spokesman Joseph Roth.

  •  
Biscayne entrance.

    Melia Hotels announces spring opening for ME Miami

    Meliá Hotels International announced Wednesday that it will open the ME Miami hotel in spring of 2015.

  • Senior scams more prevalent as population ages

    States step up to protect seniors, but even the savvy are vulnerable.

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