The transaction is expected to close in late April, and the hotel will be rebranded as The Confidante upon opening, joining the existing properties in the recently launched The Unbound Collection by Hyatt brand.
The Confidante draws inspiration from the notion of being a trusted friend, providing guests with everything they need for an uncomplicated and timeless Miami Beach experience.
With deep historical roots in Miami Beach, The Confidante is a three-towered property that pays homage to the vibrant feeling of the city in the 1950s.
Situated as an oasis in close proximity to South Beach, The Confidante will feature 30 suites, two restaurants, two heated swimming pools, direct beach access, a rooftop spa, a full service salon, an indoor/outdoor fitness experience, in-room dining, a craft cocktail bar, and a lush tropical garden.
Andrew Sobel, who co-authored the book Clients for Life, reports that none of the numerous CEOs he spoke to about their confidantes mentioned board members.
CEOs look to these consultant confidantes for a valuable outsider's perspective, free from the mindset of any one particular company or industry.
People don't really become confidantes until you have some history together," says Irwin Jacobs, CEO of Minneapolis, MN-based Genmar Holdings.