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[tombarnes]

Banks Family Reportedly in Talks With Marriott

There are reports that the Banks family, owners of the esteemed Lago Mar Resort on Harbor Beach, may be in talks with Marriott.  The plan may be to redevelop most of the existing property into a hotel/condominium complex bearing the Ritz-Carlton name.  With Marriott's Harbor Beach just next door, I am not surprised that Marriott would be pursuing the deal.  What this would mean for the development planned for the existing Ireland's Inn in Lauderdale Beach is unclear.  There are rumors that the property could be rebuilt as a Mandarin Oriental hotel.  With so many luxury properties about to come on line in Fort Lauderdale, I have to wonder if the market will be able to support all of them.  Trump has two properties under construction, Starwaood has one already open (the Atlantic) and two more under construction (the St. Regis and the W).  

              Hotel-Online--The Miami Herald

More....

              The Sun Sentinel

Edited by tombarnes, 16 January 2007 - 12:51 PM.

[larrysofla]

tombarnes, on Jan 16 2007, 02:34 PM, said:

Banks Family Reportedly in Talks With Marriott

There are reports that the Banks family, owners of the esteemed Lago Mar Resort on Harbor Beach, may be in talks with Marriott.  The plan may be to redevelop most of the existing property into a hotel/condominium complex bearing the Ritz-Carlton name.  With Marriott's Harbor Beach just next door, I am not surprised that Marriott would be pursuing the deal.  What this would mean for the development planned for the existing Ireland's Inn in Lauderdale Beach is unclear.  There are rumors that the property could be rebuilt as a Mandarin Oriental hotel.  With so many luxury properties about to come on line in Fort Lauderdale, I have to wonder if the market will be able to support all of them.  Trump has two properties under construction, Starwaood has one already open (the Atlantic) and two more under construction (the St. Regis and the W).  

              Hotel-Online--The Miami Herald

More....

              The Sun Sentinel

Upscale hotels are fine, but there should also be some that the average tourist can afford. Fort Lauderdale is banking on all these rick people coming here, but I don't know... South Beach is 30 miles down the road, and I think if I were spending that kind of cash I'd rather have South Beach. But hopefully these new properties will bring some life to Fort Lauderdale Beach, because it is DEAD right now.