The Real Deal Miami

Soffers forced to repay funds withheld from Turnberry Isle operator

November 03, 2009 12:43PM

An arbitrator has ruled that the Soffer family must pay $6 million in back fees and interest that it withheld from Fairmont Hotels & Resorts for the alleged mismanagement of the unprofitable Turnberry Isle vacation spot in Aventura. Fairmont denies mismanaging the hotel and has asked a judge to force Turnberry to pay. The Soffer family is already facing a slew of claims against its properties. The Fontainebleau Las Vegas is in bankruptcy, while contractors at the Fontainebleau Miami Beach claim more than $60 million in unpaid construction bills. [Miami Herald]