Eden Roc LLLP terminated its management agreement with Marriott International and its subsidiary Renaissance Hotels & Resorts on March 30, 2012 following years of mismanagement of the property and a failure to maximize the Eden Roc brand.
MIAMI – Hotel investment group Eden Roc LLLP, the owner of the historic Eden Roc Hotel, announced that Eden Roc Management Company, an affiliated operating unit comprised of seasoned managers of leading hotels, has commenced its role as the new management company for the 21-floor, 631-room luxury property in Miami Beach, Florida. The hotel, formerly known as the Eden Roc Renaissance Hotel, has been rebranded as the Eden Roc Beach Resort & Spa.
“This transition marks the beginning of a new era for Eden Roc, one of the most iconic luxury hotels on Miami Beach,” said Diego Ardid, Vice President of Eden Roc LLLP. “With a new management team in place, Eden Roc is ready to achieve its potential by providing our guests with an extraordinary lifestyle experience that fully leverages the beautiful guestrooms, restaurants, banquet rooms, luxury spa and other amenities we invested in as part of our $250 million renovation and expansion of the property. Eden Roc’s management team will take this landmark property to the level it deserves.”
Eden Roc Management’s team is comprised of hospitality executives with decades of combined experience managing four- and five-star luxury properties including properties under the W Hotel and Mandarin Oriental Hotel brands. Their experience compliments the extensive operating expertise of the ownership group, which owns and operates thousands of rooms at resort properties around the world.
Eden Roc LLLP terminated its management agreement with Marriott International and its subsidiary Renaissance Hotels & Resorts on March 30, 2012 following years of mismanagement of the property and a failure to maximize the Eden Roc brand. The termination followed multiple written notifications to Marriott in January 2012 and in subsequent months.
“Under Marriott’s management, Eden Roc lost market share despite its exceptional amenities and legendary reputation. Our exhaustive efforts to encourage Marriott to correct its numerous management defaults, and to preserve our partnership, proved fruitless, leaving us with no option but regain control and to put this property on the path to success. We are excited that the transition is complete and we are moving forward with a team of seasoned operating professionals who understand luxury lifestyle brands and who will establish Eden Roc as a strong competitor in the growing Miami market,” concluded Mr. Ardid.
“Under the circumstances, ownership was left with no choice but to protect its investment by exercising both its contractual and legal rights to remove Renaissance as the manager of the hotel,” said Todd E. Soloway of Pryor Cashman LLP who, along with Joshua D. Bernstein, represents the ownership group.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
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