US-based EAST Miami hotel owners are reportedly considering the property’s divestiture, which might value the establishment at more than $325m.
The owners, Trinity Investments and Certares, have engaged Jones Lang LaSalle as an adviser to facilitate the marketing of the hotel, reported Bloomberg citing sources with knowledge of the situation.
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Trinity and Certares, both with a background in the lodging investment sector, took ownership of the hotel in a transaction valued at $174m with international developer Swire Properties in 2021.
This transaction was indicative of a resurgence in investor interest in hotel properties post-Covid.
Swire Hotels, a division of Swire Properties, has been managing and maintaining operational control of the EAST Miami under the EAST brand following the acquisition.
The hotel, boasting designs from Arquitectonica, Studio Collective, and Clodagh Design, offers an array of amenities including 352 guest rooms, eight suites, and 89 residence suites.
It features signature dining experiences, such as Sugar, the 40th-floor Asian-inspired rooftop bar and garden, and Quinto La Huella, the first international branch of Uruguay’s Parador La Huella.
The property also features 20,000ft² of event space, fitness facilities, and a 20,000ft² outdoor pool and deck area.
The hotel’s Climate Ribbon architectural feature uses natural wind currents to cool the space, reducing the need for additional cooling units.
Opened in 2016 by Swire Hotels, the EAST Miami is part of a mixed-use development that has seen office rents soar to levels comparable with Manhattan.
In recent developments, Trinity Investments took ownership of the historic Fairmont Olympic Hotel in Seattle, US, in December 2024.
Certares, in a joint venture with TMGOC Ventures, acquired The Ray Hotel in Delray Beach, Florida, US, in September 2024, further expanding their portfolio in the US hospitality market.
