The owner of Miami Beach’s swanky Shore Club has picked Brazilian hospitality company Fasano to run the site’s new luxury hotel and condominium, part of a major redevelopment of the famed seaside resort.
Fasano will operate a 100-room hotel and provide service for 75 condos there. HFZ Capital Group paid $175 million for the property in December 2013 and expects to spend up to that amount on renovations and expansions at the site, currently a 309-room hotel.
The hotel at the Shore Club will be Fasano’s first project outside South America. Fasano aims to compete with other fashionable luxury names in Miami like W Hotels, Edition and the Setai. HFZ Chairman Ziel Feldman says he expects the hotel’s average daily rates to be around $600 after opening in 2017.
Fasano’s deal is the latest sign that Miami and its beaches are becoming the new testing ground for hotel brands entering the U.S., especially for ones that appeal to the increasingly important market of travelers from Latin America..