Miami’s hotel industry looks grim. But this developer is banking on its future
The developer behind the Porsche Design Tower and one of the heads behind Residences by Armani/Casa is banking on the future of the South Florida hotel industry. That’s despite plunging hotel occupancy and profitability.
Gil Dezer, president of Dezer Development, has 11 new Miami projects on his schedule. Most timelines depend on market conditions, he said — except for one: the Monaco Hotel. It’s a go.
“Hotels are gold in Miami. Everyone is going to take stock of their life and enjoy themselves a little bit more. That’s going to lead to more leisure travel,” Dezer said.
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The next steps — expected to take 12 months, according to Dezer — include finalizing the hotel concept and arranging backing. Some funding may come from his company’s pending lawsuit against an insurance company, he said.
Dezer demolished the original 1952 Travelodge Monaco at 17501 Collins Ave. last year. An administrative site plan for the new Monaco filed in November 2018 calls for a three-story hotel with 113 rooms, a restaurant, game room and underground parking.
Plans may change, Dezer said. “That approval was the zoning placeholder, we will be finalizing plans very soon.”
