Morgans no more: Menin Hospitality to manage Mondrian South Beach

Miami /
Jun.June 13, 2016 12:00 PM

Menin Hospitality is now managing Mondrian South Beach, the 335-key bayfront hotel previously operated by Morgans Hotel Group.

Menin, which helped develop the condo-hotel in 2008, entered into a licensing agreement to run the hotel under the same name, Menin’s managing principal Jared Galbut told The Real Deal. The company took over on Friday. 

Galbut said Menin will add a new ballroom, refresh the restaurant and pool area, and improve on the hotel rooms’ furniture, fixtures and equipment. Room rates at the hotel, which includes studios, one- and two-bedroom apartments, and penthouses, will remain the same, ranging from $250 to $700 in June, according to its website. Amenities at the Mondrian include its Agua spa, gym, restaurant, indoor-outdoor lounge, event space, and a private marina and dock.

Records show 1100 West Investments LLC, ownership tied to Crescent Heights, took out $16.2 million in financing on Monday for a number of units at the Mondrian. Citibank is the lender.

“This summer we’re going to [go through] a nice revitalization of the property and bring it back to what the Mondrian should be,” he said. “Hopefully, that will result in an increase in ADR.” The hotel will remain opening during the renovation.

For Menin, the hotel adds to its growing portfolio. The Miami-based company runs the Gale and Kaskades, the Bentley and Sanctuary, and Raffaelo Chicago, and will manage the Gale in Fort Lauderdale when it opens. It also operates a handful of Miami Beach food and beverage concepts, including Bodega Taqueria y Tequila, Red Ginger, Pizza Bar and Bakehouse.

Galbut declined to comment on the terms of the deal.

In May, Los Angeles-based SBE Entertainment Group entered into an agreement to buy Morgans in a deal valued at $794 million. SBE is assuming ownership of the Hudson New York and the Delano South Beach, and will manage Morgans hotels in New York, Los Angeles, San Francisco, and other cities. The Shore Club Miami Beach, which Morgans manages, will close this fall and reopen as a Fasano.

An affiliate of Crescent Heights owns the Mondrian, Galbut said. “Our company was always involved to some extent,” he said. “It’s a pretty exciting time.”


Related Articles

arrow_forward_ios
Tudor House Art Deco and Essex House hotels (Wikipedia Commons)

Hotel height increases could be coming to Miami Beach’s Collins Avenue near Ocean Drive

Hotel height increases could be coming to Miami Beach’s Collins Avenue near Ocean Drive
Diego Lowenstein, Dayssi Olarte de Kanavos, Paul Kanavos, and Ronny Ben Josef, with The The Sagamore (Credit: The Sagamore Hotel)

Owners of Ritz-Carlton South Beach and Bal Harbour hotels merge with Sagamore

Owners of Ritz-Carlton South Beach and Bal Harbour hotels merge with Sagamore
Pharrell, Eric Birnbaum and David Grutman with a rendering of the hotel (Getty, Linkedin, Goodtime Hotel)

Pharrell, David Grutman partner with developer to launch South Beach hotel

Pharrell, David Grutman partner with developer to launch South Beach hotel
Starwood CEO Barry Sternlicht, InTown Suites CEO Ash Kapur and 1071 NE 28th Avenue in Homestead (Getty, Google Maps)

Starwood scores $265M refi for portfolio of InTown, Uptown hotels

Starwood scores $265M refi for portfolio of InTown, Uptown hotels
Lord Balfour Hotel

Mezz lender forecloses on Ocean Drive hotel in South Beach

Mezz lender forecloses on Ocean Drive hotel in South Beach
Domio Wynwood, Gustavo Miculitzki, and Jon Paul Pérez (Credit: Alberto Tamargo/Getty Images)

Related lists Domio Wynwood apartment-hotel for sale with whisper price of $90M

Related lists Domio Wynwood apartment-hotel for sale with whisper price of $90M
Jeffrey Soffer and Fontainebleau Miami Beach (Getty)

Fontainebleau Miami Beach’s $1B loan exits special servicing

Fontainebleau Miami Beach’s $1B loan exits special servicing
Len Blavatnik, Vlad Doronin and a rendering of the project (Credit: Mike Coppola/FilmMagic via Getty Images)

Miami Beach approves zoning change allowing for Aman tower

Miami Beach approves zoning change allowing for Aman tower
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...