LHC, Lifestyle Hospitality Capital, investment management platform that provides partners and investors with dedicated access to a diverse range of value - add investment opportunities across the entire spectrum of lifestyle hospitality and operational real estate, based in London has acquired The Gates Hotel South Beach in Miami - Florida - U.S. which will become the American flagship of Dean Group hospitality company, a dedicated hotel and real estate, brand and management platform that operates hotels and restaurants in Ireland and Germany and based in Dublin.
This upscale hotel is situated on famous Collins Avenue at 23rd Street in the heart of the trendy South Beach neighborhood and is across the street from the Atlantic Ocean not far from Miami Beach Convention Center, a 6 - minute walk from the Bass Museum of Art, a 15 – minute walk from the Miami Beach Botanical Garden and 1.6 kilometres from Lincoln Road's Mall and dining.
Deutsche Bank reportedly provided an $83 million loan for the deal of this accommodation featuring 235 rooms will undergo a renovation and rebrand as The Dean Hotel – Miami Beach marking the debut of Dean Group in the United States of America and when complete it will joy the existing properties in Dublin, Cork and Galway.
The Founder and CEO of LHC Keith Evans said that the group is thrilled to have acquired such a high – profile hotel in the fast – evolving Miami Beach hotel market, The Gates Hotel South Beach offers significant potential for repositioning into one of Miami's leading lifestyle hotels.
This is an exciting first move for the Dean Brand and it begins to build its presence across the US, following the recent expansion of the Dean Group into Munich and Berlin.
Last year Lifestyle Hospitality Capital backed by finds advised by Elliott Investment Management, famed American firm based in New York City and one of the largest funds in the world.
As additional note in October LHC acquired the renowned Roomers Munich Hotel which marked the first hotel in Europe by to be operated by the group entering in the Dean Group portfolio which includes The Clarence, The Mayson and The Leinster in Dublin, as well as as restaurants and bars such as Sophie's, Ryleigh's and Layla's in Europe.
Link - https://boutiquehotelnews.com/news/hotel/lhc-dean-group-us-acquisition/
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