The property will continue to be managed under a long-term agreement by Starwood Hotels and also continue to fly the St. Regis flag. The St. Regis Bal Harbour Resort is located at 9703 Collins Avenue, directly opposite the luxurious Bal Harbour Shops and near Miami’s vibrant South Beach. The 27-story oceanfront property features 207 elegant rooms and suites. The property also features the St. Regis Bal Harbour Residences, branded private residences and condo-hotel units, which are nearly sold out.
H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of ARTIC, commented on this acquisition: “We are proud to add this iconic resort to our growing property portfolio; the St. Regis brand represents a symbol of uncompromising elegance and bespoke service. This acquisition complements our investment focus on world class assets in prime locations as we continue to expand our presence around the globe. We enjoy a strong relationship with Starwood Hotels & Resorts, are delighted to be working with them again and look forward to continuing this relationship in the future.”
ARTIC is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services in Qatar and overseas with a portfolio of more than 25 hotels in prime city locations worldwide. This acquisition is another key milestone in the delivery of ARTIC’s strategy to build an international portfolio of prime, iconic hotels and resorts.