The Ritz-Carlton Hotel Company is parting ways with its Palm Beach hotel by July 1, the national chain said in a release.
The company is alleging a breach of contract in a multimillion-dollar counterclaim against RC/PB, the owner of the building at 100 South Ocean Boulevard in Manalapan.
The hotel was projected to rake in millions of dollars in net profit this year under Ritz-Carlton’s management. But soon RC/PB will manage the hotel, under a different name, the release said.
Ritz-Carlton argued that, despite RC/PB’s claims regarding unsatisfactory management of the hotel, it always passed the contractual performance test, the release said.
The hotel chain has nine locations in Florida, including Fort Lauderdale and South Beach. Donald Trump became an owner of the Ritz-Carlton Golf Club & Spa in Jupiter in Palm Beach County after signing a contract in November, as previously reported.