(MIAMI, FL) -- The development of the largest U.S. real estate development in eight years took an important step forward today when Resorts World Miami assumed the ownership of the Omni Center and introduced its President.
The acquisition of the Omni Center, inclusive of the 527-room Hilton Hotel, 2,500 space car park, 300,000 square feet of offices, and 600,000 square feet of decorator ready retail, is the first stage of development for the $3.8 billion Resorts World Miami project, which will soon rise on 30 acres of prime land in downtown Miami.
The hotel, office, retail and parking acquisition comes as Florida legislators contemplate the proposed Destination Resorts Act, which will open the door to billions of dollars in new investment, create up to 100,000 new jobs, and reform casino gaming in the state.
"With over 350 employees, Resorts World Miami is starting to become a reality. These employees are the first of the 19,000 employees to be employed if and when the Destination Resort Act is passed and Resorts World Miami secures one of the three destination resort licenses," said Christian Goode, the newly-named President of Resorts World Miami. "We will now work with local officials, business and civic leaders, and urban planning and architecture experts to ensure Resorts World Miami complements Miami's existing business landscape and the state's expansive tourism infrastructure. Beyond the significant job growth and billions in inbound investment spurred by destination resorts, these projects will further enhance Florida's standing as a global destination."
Christian Goode will oversee all aspects of development, construction, and operations for Resorts World Miami. He most recently served as Chief Financial Officer for the $880 million Resorts World New York City project, which created thousands of construction and permanent jobs and welcomed 65,000 patrons during its opening weekend last month.
OMNI Center Miami
The 30-acre project has been designed by Miami-based architecture and planning firm Arquitectonica, becoming the first proposed destination resort to be designed in Florida and serving as a catalyst for the statewide initiative to pass the Destination Resort Act. The resort represents a $3.8 million investment that is projected to create tens of thousands of direct and indirect jobs while drawing millions of new tourists and generating hundreds of millions of dollars in new revenue for the state of Florida.
Plans include four new hotels with more than 5,000 rooms and two residential towers featuring up to 1,000 units; a luxury retail galleria; a 3.6 acre rooftop lagoon and natural sand beach; more than 50 restaurants, lounges, bars and nightclubs; a high-tech multimedia entertainment area showcasing the music and culture of Florida and South America; and 700,000 square feet of convention and meeting space.
Resorts World Miami will help develop the three-mile BayWalk, which highlights a 150-acre leisure and entertainment area in downtown Miami beginning at the Miami River and running north to Margaret Pace Park. The Baywalk will link Bayfront Park, Bayside Market Place, American Airlines Arena, Museum Park, the under-development Miami Art Museum, the new Miami Science Museum currently under design, and the Adrienne Arsht Center for the Performing Arts.
The Resorts World Group has a 25-year track record of investing in the United States. Its business in Florida started 12 years ago when it acquired Miami-based Norwegian Cruise Line (NCL) and spent $5 billion building eight new ships which transformed NCL into the youngest and most innovative cruise line. Resorts World Group currently owns 50% of NCL. Resorts World partnered with Universal Studios to build and open the $5.5 billion Resorts World Sentosa in Singapore, which includes a Universal Studios theme park. Within a year, Resorts World Sentosa became the world's most successful Destination Resort.
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the first week of December. In year-over-year comparisons for the week, occupancy rose 2.7 percent to 51.0 percent, average daily rate increased 2.7 percent to US$99.42 and revenue per available room finished the week with an increase of 5.4 percent to US$50.71.
The U.S. Travel Association is commended the new agreement that will speed the border process for Canadian travelers visiting the United States while enhancing security. President Barack Obama and Canadian Prime Minister Stephen Harper announced highlights of joint action plan at a White House ceremony on December 7.
(MIAMI BEACH, FL) -- As the world's art aficionados, celebrities and super wealthy converge on the shores of South Beach this week to celebrate the tenth anniversary of Art Basel Miami, the real celebrating should be done by the business proprietors in the local economy who will enjoy a multi-hundred million dollar economic windfall left in their wake.
Hospitality giant Marriott International has completed the spin-off of its fractional ownership and timeshare division, with equity shares of the new company, Marriott Vacations Worldwide Corporation, being distributed tax-free to Marriott International shareholders.
Based on new hotel data compiled by STR Global, hotel markets across the world reported mostly positive performance gains in October 2011. The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for October 2011.
(MARCO ISLAND, FL) -- Marco Island Marriott Beach Resort recently announced the expansion of its resort golf amenities with the addition of the 18-hole Hammock Bay Golf Course. The off-site facility, located only 10 minutes from the resort, is available exclusively to members and resort guests.
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