A Miami federal judge ruled in favor of the Four Seasons Hotel, which was accused of breaching profit-sharing contracts for hotel-condo units at the Millennium Tower in Miami.
The nine plaintiffs purchased 14 units in the tower separately from 2003 to 2005 and entered rental program agreements with the Four Seasons, according to the Daily Business Review.
They then sued in 2011, alleging the Four Seasons had convinced them to buy the units, located at 1435 Brickell Avenue, by marketing them as income-generating investment properties.
The Four Seasons fired back, noting that the rental program is voluntary and that the plaintiffs have received income.
In court, the Four Seasons called it “a classic case of buyers’ remorse.” It claimed plaintiffs simply were not getting the income they had hoped.
“As to plaintiffs Altenel Inc., Ray Development Corp. and Bozena Sawa, the court finds that plaintiffs failed to produce any evidence showing that defendant breached its contracts with these parties,” the judge wrote. “Because plaintiffs have failed to produce any evidence of damages resulting from the alleged breach of contract, this claim must fail.” [Daily Business Review] – Christopher Cameron