The Real Deal Miami

Royal Palm regained by Peebles

February 19, 2009 10:57AM

A legal battle over control of the Royal Palm Hotel on South Beach appears resolved, with developer R. Donohue Peebles regaining control of the building he sold his majority share in four years ago. Peebles kept a 13 percent interest when he sold the property to Guy Mitchell and other partners in 2005, and alleged mismanagement of the 417-room hotel. The Royal Palm faces seizure by a lender and has dozens of rooms under repair and millions of dollars in missed loan payments.