The Real Deal Miami

Royal Palm hotel getting the James treatment

April 11, 2011 01:02PM

Denihan Hospitality Group is bringing its James hotel brand to Miami Beach’s Royal Palm. The hotel, which will be renamed the James Royal Palm, was sold at a bankruptcy auction last year for $126 million to real estate investment trust Sunstone Hotel Investors. Last month, Sunstone sold it for $130 million to KSL Capital Partners, which is planning a $42.6 million renovation and hired Denihan to manage the property when the project is finished next year. The 72-year-old, 409-room hotel is the fourteenth in Denihan’s management portfolio (it owns half of those properties, too). It is the third that will carry the boutique luxury James brand, joining the 297-room James Chicago and the 114-room James New York, which opened last year in Manhattan. [WSJ]