Lago Mar Owners Reported to be in Negotiations

[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

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The Sun Sentinel

[larrysofla]

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