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VOS
Hospitality Announces Groundbreaking
for
Historical Greystone Hotel in Miami Beach
|
Miami
Beach, FL April 2016 / Newsmaker Alert / VOS
Hospitality, an owner, developer, and manager of boutique and lifestyle
hospitality, and its partner The B Group announced the groundbreaking of
the historic Greystone Hotel
located in Miami Beach. The announcement commences the restoration of the
historic Art Deco property, originally built in 1936 and purchased by the
partnership in 2012 for $7.5 million. The adjacent building at 230 20th
Street, formerly known as Santa Barbara, was subsequently purchased in
2014 for $7 million and will be integrated into the newly redeveloped Greystone
Hotel, which is expected to open in the fourth quarter of 2017.
The
92-guestroom Greystone Hotel will become a 56,000 square-foot boutique
property in the center of Miami Beach at 1920 Collins Avenue. Shulman +
Associates will oversee the architectural design. The first building will
retain the original Art Deco façade and historic lobby with modern
updates while the second building will be partially restored as a second
guestroom tower with a five-story rear addition stepping back each floor
to uncover 8 unique private terraces. Plans also include a lush rooftop
pool and bar, 140-seat ground floor restaurant, outdoor café, and
an undisclosed underground lounge.
We
are excited to begin the restoration of this historical property, said
James Vosotas, CEO of VOS Hospitality and Greystone Hotel co-manager. The
building and location have a lot of potential as the epicenter of South
Beach continues to move north.
Greystone
Hotel will be centrally located and walking distance to the Miami Beach
Convention center, upscale shopping on Lincoln Road, beaches, dining, and
nightlife venues. The property will welcome locals and international travelers
as it recreates the essence of Miami's Golden Era.
For
more information and updates on Greystone Hotel, please visit www.greystonehotelmiami.com
or follow Greystone Hotel Miami on social media.
Facebook
Greystone Hotel
Miami
Instagram
@GreystoneHotelMiami
Twitter
@GreystoneMiami
About
VOS Hospitality
Originally
founded in 1981, VOS Hospitality
is a lifestyle hospitality owner, developer, and manager strategically
refocused in 2012 from its roots as Trans Inns Management. With over 60
hotel transactions in 16 states, both acquisition and development, representing
over $700 million and 35 years of hospitality management, our experienced
team has consistently outperformed its competitors over numerous business
cycles and has a demonstrated ability to maximize investor ROI.
About
The B Group
The
B Group is a private investment company managed by Branden Muhl that specializes
in biotechnology. In 2012, the B Group broadened its mandate to include
non-healthcare as well as private investments. As a result, Muhl serves
as Co-Manager of The Greystone Hotel Miami redevelopment project in Miami
Beach, FL. The B Group has realized annual returns of 33% since its inception
in 2006, with a 110% upside capture ratio, 8% downside capture ratio, and
0.34 beta.
Media
Contact:
Nicole
Martinez
Account
Executive
Carma
Public Relations and Marketing
305-438-9200 |
