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| By Douglas Hanks, The Miami HeraldMcClatchy-Tribune Regional News Jul. 22--Ritz-Carlton said Tuesday it will take over a hotel on Fort Lauderdale beach, a major milestone in the destination's bid to retire its spring-break reputation in favor of a more exclusive image. Ritz-Carlton will replace St. Regis as the operator of a 166-unit condo-hotel at 1 N. Fort Lauderdale Beach Blvd. St. Regis, a Starwood brand, is leaving the hotel amid a dispute with the developer. The swap means more bragging rights for Broward County tourism officials, given Ritz-Carlton's image as one of the country's top luxury brands, competing with Four Seasons. St. Regis targeted the same affluent customers but has a much smaller footprint on the U.S. lodging market. Ritz-Carlton takes over Aug. 11. This would be its fourth South Florida property, with a fifth on the way. Ritz-Carlton already operates hotels in Key Biscayne, South Beach and Coconut Grove, and is building a luxury timeshare and condominium resort in Miami Beach. It also furthers Ritz-Carlton's big expansion push in Florida, where it operates nine resorts. The move could complicate things for Marriott, Ritz-Carlton's parent company. It already operates one of Fort Lauderdale's top properties, the Marriott Harbor Beach. That hotel sits directly on the ocean, while the St. Regis faces the sand across from Fort Lauderdale Beach Boulevard. A Ritz-Carlton would want significantly higher rates than a Marriott, which could be challenging given the Harbor Beachs' prime location, said Mark Ellert, a Fort Lauderdale hotel developer and broker. "It would be hard to bring Ritz-Carlton into the market not on the sand, when Marriott Harbor Beach is on the sand," Ellert said in an interview last week amid speculation of Ritz-Carlton's Fort Lauderdale venture. ----- To see more of The Miami Herald or to subscribe to the newspaper, go to http://www.herald.com. Copyright (c) 2008, The Miami Herald Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. NYSE:MAR, |
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