The Real Deal Miami

New owners of Ritz Bal Harbour plan $5M upgrade

Lionstone acquired the building last year
The Ritz-Carlton Bal Harbour and Lionstone Development CEO Diego Lowenstein

The Ritz-Carlton Bal Harbour and Lionstone Development CEO Diego Lowenstein

The Ritz-Carlton Bal Harbour will be getting a new restaurant, spa and yoga studio as part of a $5 million upgrade package from the hotel’s new owners.

Lionstone Development and the Flag Luxury Group acquired the hotel last year, then called One Bal Harbour Resort & Spa. The partnership announced during the deal that it would rebrand the hotel as a Ritz-Carlton.

Now, Lionstone has unveiled plans to renovate the 18-story condo hotel at 10295 Collins Avenue. Those plans include a new restaurant that will focus on Miami’s cuisine, a full-service spa with 10 private therapy rooms and separate steam rooms for both genders, plus a 1,000-square-foot exercise studio that will be open to the public.

“Located within walking distance to Bal Harbour Shops, the new offerings at The Ritz-Carlton Bal Harbour, Miami also will make the property a desirable destination for residents looking for more leisure, dining and wellness options in the Bal Harbour area,” Lionstone CEO Diego Lowenstein said in a statement.

Lionstone paid $12 million to acquire the hotel, which has 185 residences and 124 condo-hotel rooms. The building had endured years of litigation after two of its former owners filed for bankruptcy. — Sean Stewart-Muniz