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.