Starwood Hotels & Resorts Worldwide and Al Rayyan Tourism Investment Company (ARTIC), a subsidiary of Qatar' Al Faisal Holding Company, announced that ARTIC has acquired The St. Regis Bal Harbour Resort in Miami, Florida for $213 million.
Starwood Hotels sold Miami St. Regis to Qatari groupStaff writer ▼ | Thursday January 23, 2014 7:20AM ET
The property will continue to be managed under a long-term agreement by Starwood Hotels and also continue to fly the St. Regis flag.
The St. Regis Bal Harbour Resort is located at 9703 Collins Avenue, directly opposite the luxurious Bal Harbour Shops and near Miami's vibrant South Beach. The 27-story oceanfront property features 207 elegant rooms and suites. The property also features the St. Regis Bal Harbour Residences, branded private residences and condo-hotel units, which are nearly sold out.
ARTIC is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services in Qatar and overseas with a portfolio of more than 25 hotels in prime city locations worldwide. This acquisition is another key milestone in the delivery of ARTIC's strategy to build an international portfolio of prime, iconic hotels and resorts.
Amenities at The St. Regis Bal Harbour include: three distinctive dining outlets, including the world-renowned chef Jean-Georges Vongerichten's J & G Grill; a 14,000 square-foot Remede Spa; two luxurious ocean-view pools; and 11,200 square feet of indoor function space and several outdoor venues, ideal for grand weddings and private receptions.
Following in the tradition of the iconic The St. Regis New York, The St. Regis Bal Harbour Resort features the famed hallmarks of St. Regis hotels, including the legendary St. Regis Butler Service, bespoke guest experiences and luxury accommodations. ■