I’ve long thought that Miami could use a higher-end Hyatt option, and it looks like that’s finally happening.
Plans for an upcoming Andaz Miami Beach
The Confidante Miami Beach currently belongs to The Unbound Collection, which is Hyatt’s brand for independent upscale hotels. Well, the branding of this hotel will be changing in the next couple of years.
It has been announced that the 339-room hotel has been sold for $232 million, or $684,000 per key. The purchase price represents a 17.3x multiple on 2022 forecasted EBITDA and a 5% capitalization rate on 2022 forecasted hotel net operating income.
Following the sale, it’s expected that the hotel will undergo a full transformation, and will be rebranded as the Andaz Miami Beach. The new owners plan to spend roughly $60 million on updating the hotel, so that’s a pretty significant investment. It’s expected that the renovation will be complete in 2024.
I’d consider this to be great news
Since I live in Miami, I’ve never stayed at The Confidante Miami Beach. However, based on everything I’ve heard, the hotel is a bit past its prime, but of course people like it for its beachfront location. The hotel isn’t by any stretch of the imagination “luxury,” not that The Unbound Collection is supposed to be that.
It’s great to see that money will be put into this hotel to hopefully make it feel a bit fresher and more luxurious. This will without a doubt be Hyatt’s most premium property in the Miami area, so I’m sure many World of Hyatt members will appreciate this.
Miami has long been a hot hotel market, but it has only gotten hotter during the pandemic. Room rates have been through the roof, and I’m sure the Andaz will be able to charge much higher rates (which is of course the negative aspect of this rebranding).
The Confidante Miami Beach has just been sold, and the new owners plan to invest $60 million in order to renovate the hotel and turn it into the Andaz Miami Beach. It’s nice to see Hyatt finally getting a higher end property in Miami, since it’s an area where the brand lags (meanwhile Marriott has lots of great options in Miami).
What do you make of the plans for the Andaz Miami Beach?
I’ll miss the hotel as it is.
It was an excellent hotel to use your category 1-4 free night certificates and or 15,000 pts per night otherwise
I can’t wait to return once renovations are complete
What a shame.
While I like the Andaz brand, I thought the Confidante was fine as is. I did not think the hotel was past its prime. Perhaps the comments you heard were from people who don't understand the mid-century modern vibe.
This is sad. The Confidante is perfect as is, and is a good value. This will make the price per night soar.
I like the retro vibe of the Confidante. It has a nod Miami’s Art Deco era and if you take the Art Deco Tour, you really appreciate this hotel. Hopefully they will keep some of the features that make it interesting.
The Confidante is a very nice hotel. I didn't find it tired at all and thought the service was always friendly. My only complaint was that the pool was a little too small but with the ocean right there that didn't matter too much. Due Lipa's video for New Rules was shot there https://www.youtube.com/watch?v=k2qgadSvNyU
This is going to put a lot of pressure on The Cadillac, a Marriott Autograph Collection property, located right next door.
It's a good location. But the rooms are tiny
They might need to invest more than 60 million to turn this into an Andaz.
I find the theming to feel so special and immersive compared to a lifeless particle board “centric”
Was a great value at either Cat 4 or Cat 5 when I was there (December). I found the room fantastic (especially with a beachfront balcony) but the service atrocious. Incompetent, indifferent, or uncaring -- everyone I interacted with.
The Hyatt Regency Coral Gables is a great hotel in my experience with great rooms and architecture, and amazing employees in my experience. It isn't by the beach or tourist spots, but it's in the center of Coral Gables and there are a ton of restaurants and shops from walking distance.
I've also stayed at the Hyatt Regency in downtown Miami a few times and I loved the views and location, but the hotel isn't as luxurious as your typical Hyatt properties.
Stayed there in March before the change from cat 4 to cat 5. It was tired but for 15k or cat 1-4 cert it was a great value for the two pools and being on the beach. The suites were nice and decently available for TSU awards. I will miss staying there on the cheap and suspect this will be a 6 or 7 soon.
Do we know when the renovations are expected to start? I got a booking for October and wondering if it'll be canceled.
Miami Beach is a dump full of homeless beggers and passed out druggies. What is the attraction. I would much rather be in the Las Olas area around class.
Any fort lauderdale neighborhood and class don't belong in the same sentence.
The Confidante is probably my fav Cat 4 hotel in the U.S., with frequent suite upgrades due to my Globalist status. It's a great property, immense value (considering you could use free night certificates.) We would stay for free and eat breakfast for free and swim at Soho Beach House 2 blocks away.
Hyatt bumped it up to Cat 5 and it will probably be up to Cat 6 (or 7?) by the time the Andaz launches. They obviously recognized the value here too.
That's my fear too! I am sure it will not, unfortunately, be an Andaz Cat 5
When discussing Miami Beach never be sure of what the future brings. The analysis of Dollars per key is one calculation, others would be Dollars per square foot land or Dollars per square foot buildable. The best plan might turn out to be a demo followed by a giant Condo project.
I stayed here once when it was a Thompson Hotel in the mid-2010's and it was pretty nice then, although I will say based on looking at the Confidante website, its gone downhill a little bit (particularly in terms of its restaurants). It's a little far north on Miami Beach, but it's a nice property and an Andaz upgrade could make it pretty great.