Dive Brief:
- Mandarin Oriental, Miami will close its doors later this month as it prepares to be demolished and redeveloped, a spokesperson for the Hong Kong-based hotel company confirmed to Hotel Dive.
- Some 430 employees will be laid off between May 31 and September, according to a Work Adjustment and Retraining Notice filed with Florida Commerce. The layoffs affect employees throughout the hotel, from room attendants and servers to directors of sales and finance.
- Mandarin Oriental Hotel Group previously said its forthcoming hotel and residences in Miami’s Brickell Key will open in 2030. Miami was a top market for hotel investors and developers in 2024.
Dive Insight:
The redeveloped Mandarin Oriental, Miami will be part of a two-tower development including The Residences at Mandarin Oriental, Miami, built in partnership with Hong Kong’s Swire Properties. The South Tower will offer 228 residences, and the North Tower will feature a 121-key hotel, a spa and multiple restaurants.
A 100,000-square-foot “amenity podium” — which will include infinity pools, cabanas, restaurants and bars — will connect the two towers, Mandarin Oriental announced in 2023.
The project, on a 3.5-acre waterfront site, is part of Swire Properties’ One Island Drive hospitality district, announced in 2023. One Island Drive will be the first residential property to be built on Brickell Key in 15 years, according to Swire, and sales for residences launched in 2023.
Mandarin Oriental, Miami will hold a closing gala in May featuring live performances and a retrospective exhibit about the hotel, which marked its 25th anniversary in December.
Several luxury brands have selected Miami for high-profile developments in recent years. Alongside Gencom, Hyatt Hotels is developing a mixed-use project in the city’s downtown, which will feature a Hyatt Regency hotel. And last month, Hyatt’s luxury lifestyle brand Andaz made its Miami Beach debut.
In October, Marriott International's W South Beach sold for $400 million to private equity investment firm Reuben Brothers.
