Earlier this year, there were rumors suggesting that American designer and fashion powerhouse Tommy Hilfiger had plans to sell the Raleigh Hotel in Miami Beach. However, that is far from the truth. Hilfiger will be transforming the property into a private club.
In an interview with the New York Post’s Page Six, Hilfiger addressed the rumors. He said, “We’ve had numerous people approach us asking us to sell it. Other hoteliers wanted to buy it within a week of [my] purchase. I considered it for a moment.”
Currently, there are a number of reservations booked through April 30th. In May the fashion designer will close the doors to the property to commence the 18-month-long renovation.
Hilfiger acquired the property in 2014. According to country records, a company controlled by Hilfiger paid $56.6 million for the Raleigh Hotel. The 105-room hotel, located at 1775 Collins Avenue, was sold by David Edelstein and Sam Nazarian’s Twice Around 1775 LLC to Elmira Miami, which is managed by Hilfiger and David Pisor. Under the deal, Elmira Miami assumed a $35 million mortgage from RL Miami Funding, which is affiliated with JPMorgan Chase Bank. The loan lists Hilfiger and Pisor as personal guarantors.
The deal was originally made while having dinner with fellow Haute 100 lister Aby Rosen, real estate tycoon, during 2013 Art Basel. In a statement issued last year Hilfiger said, “The Raleigh is an incredible hotel with a very special place within the Miami market. As reported, we’re actively working towards making it our flagship property under my new company, Hilfiger Hospitality. Once the purchase is complete, we will share my team’s vision to bring The Raleigh brand to life in a way that hasn’t been done before.”
Hilfiger decided to launch a private club after being inspired by the Soho House, a private members’ club for people in the creative industries. He has plans to open a number of Raleigh Clubs in New York, Los Angeles and London.
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