The Real Deal Miami

Miami hotels continue renovations

November 25, 2008 03:56PM

Several popular properties in Miami’s South Beach are receiving
cosmetic work, with hotel owners investing millions of dollars to
restore or upgrade common areas and guest rooms despite a tough
economy. The 243-room Palms South Beach is getting a $10 million
upgrade from the Miami-based Amicon Development Group, which has
performed renovations at several other Miami Beach hotels. The
Sovereign Hotel traded for $39 million
earlier this month amid a renovation and expansion project that
includes a 15-story tower addition, and the 1,500-room Fontainebleau
Miami Beach resort reopened last weekend after undergoing $500 million worth of renovations.