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US: Hyatt Hotels Corporation is to buy the Thompson Miami Beach and rebrand it The Confidante.
US: Hyatt Hotels Corporation is to buy the Thompson Miami Beach and rebrand it The Confidante.
Hyatt is purchasing the 380-room property from an affiliate of Hyatt heir John Pritzker’s Geolo Capital. Pritzker is also chairman of Commune Hotels & Resorts, which currently operates the property.
The transaction is expected to close in late April, and The Confidante will join the recently launched The Unbound Collection by Hyatt brand.
The Confidante will feature 30 suites, two restaurants, two heated swimming pools, direct beach access, a rooftop spa, a full service salon, an indoor/outdoor fitness experience, in-room dining, a craft cocktail bar, and a lush tropical garden. It will also house approximately 35,000+ square feet of indoor and outdoor flexible, multi-functional venue space.
“The acquisition of this high-quality hotel allows Hyatt continued strategic growth in a critical market for both the company and for our newest brand, The Unbound Collection by Hyatt,” said Stephen Haggerty, global head, real estate and capital strategy for Hyatt. “We are thrilled to expand our presence in Miami Beach, a market in which we have great unmet demand from our guests. 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 is all about giving the properties within this brand the freedom to be extraordinary and providing guests with the social currency and story-worthy experiences they crave. The Confidante’s rich history steeped in Miami Beach’s golden era will do just that,” said Maryam Banikarim, global chief marketing officer for Hyatt. “It will provide a playful and sophisticated backdrop, much like a friend’s beach house, where guests can get away and relax while enjoying the vibrancy and energy of Miami Beach.”
www.hyatt.com
