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Hyatt to buy Thompson Miami Beach hotel

Private equity firm Geolo Capital bought the former Crown at Miami Beach apartments and turned it into the Thompson Miami Beach in November 2014. The hotel is changing hands to Hyatt’s new Unbound Collection brand.
Private equity firm Geolo Capital bought the former Crown at Miami Beach apartments and turned it into the Thompson Miami Beach in November 2014. The hotel is changing hands to Hyatt’s new Unbound Collection brand. Miami Herald Staff

After little more than a year as the Thompson Miami Beach, the hotel will once again go through a metamorphosis to become the latest in Hyatt Hotels Corp.’s upscale Unbound Collection brand.

Renamed “The Confidante,” the 380-room Thompson Miami Beach will be the fifth hotel in Hyatt’s 13th brand, which has hotels in Paris, Uruguay, Hawaii and Austin, Texas. Launched earlier this month, the brand is a collection of independent upscale, luxury or boutique hotels.

Thompson Miami Beach certainly fits the bill: The property reopened under the Thompson Hotels brand in November 2014 — after an extensive renovation — with $349-a-night rooms and a restaurant by celebrity chef Michelle Bernstein called Seagrape.

The hotel complex at 4041 Collins Ave., comprising three towers dating to 1940, 1955 and 2007, has changed hands several times. It opened as the Lord Tarleton Hotel on Collins Avenue in 1940, then reopened as the Crown Hotel in 1955 and finally was the Crown at Miami Beach apartments before a takeover by Thompson Hotels that included a $82 million renovation to turn apartments into hotel rooms.

“We are thrilled to expand our presence in Miami Beach, a market in which we have great unmet demand from our guests,” said Stephen Haggerty, global head, real estate and capital strategy for Hyatt. “The property will have the freedom to establish and maintain its individuality and distinct character while benefiting from the operational excellence and efficiencies that come from being part of Hyatt.”

The Unbound Collection by Hyatt allows hotels to keep their character but also make use of Hyatt’s marketing, loyalty program and reservation system. The Confidante will feature 30 suites, two restaurants, direct beach access and a rooftop spa, among other amenities.

Hyatt is expected to purchase the hotel from private equity investment group Geolo Capital by late April.

Miami Herald writer Lesley Abravanel contributed to this report.

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