Morgans Hotel Group has placed the iconic South Beach Delano Hotel on the market.
Just this past March a $10.8-million renovation project was completed at Delano that included a makeover for the Bianca restaurant. The 195-room hotel is listed for around $200 million, or roughly $1 million per room. For comparison, the 1500-room Fontainebleau Miami Beach was appraised earlier this year for $1.1 billion or about $731,000 per room.
Last year, Morgans sold the Mondrian Los Angeles for $137 million.