Conrad Miami lays off 154 employees ahead of county reopening

Layoffs are expected to exceed six months

TRD MIAMI /
May.May 29, 2020 05:30 PM
Conrad Miami with Camilo Miguel of Mast Capital

Conrad Miami with Camilo Miguel of Mast Capital

Hotel operator HEI Hotels & Resorts announced that 154 employees at the Conrad Miami were laid off due to the coronavirus pandemic.

The WARN notice is dated May 25, one week before hotels are allowed to reopen in Miami-Dade County. Merritt Hospitality, an affiliate of HEI Hotels & Resorts, filed the letter this week, which states that the 154 layoffs are expected to exceed six months.

Mast Capital and Angelo Gordon & Co. paid $72 million for the 203-room luxury hotel at 1395 Brickell Avenue in 2017.

The layoffs add to thousands of others in retail, restaurants, hotels and resorts throughout the state, including at Walt Disney World Resort. A number of hotels in South Florida have been closed since mid- to late-March and will begin reopening on Monday, June 1.

Since the pandemic began, hotels that have laid off or furloughed employees include the Carillon Miami Wellness Resort, the Four Seasons Resort Palm Beach, the Eden Roc Miami Beach, the Palms Hotel and Spa, Circa 39, the South Seas and the Richmond Hotel, SLS South Beach, JW Marriott Marquis Miami, the JW Marriott Miami, the Trump National Doral Miami and the South Beach Hotel Group’s properties.

Hotel owners in Miami-Dade, Broward and Palm Beach counties have $4.2 billion in commercial mortgage-backed securities debt, based on an analysis by data provider Trepp. Hotels such as the Fontainebleau Miami Beach have entered special servicing, presenting new challenges for property owners.


Related Articles

arrow_forward_ios
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
Developer Camilo Miguel Jr. and renderings of the project

Mast Capital wins initial approval for shorter Mid-Miami Beach condo project

Mast Capital wins initial approval for shorter Mid-Miami Beach condo project
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
Renderings of the project

Miami Beach board approves Generator hostel/hotel expansion

Miami Beach board approves Generator hostel/hotel expansion
arrow_forward_ios

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

Loading...