Miami Beach has undergone significant hotel development in recent decades, with a resurgence of interest starting in the late 1980s when developers began restoring the art deco gems of South Beach. Today, the area is experiencing another surge of development, with new urban beach resorts from prestigious hospitality groups such as Aman, Rosewood, Auberge, and Bulgari set to attract visitors to Miami Beach. The post-COVID boom has seen a significant increase in hotel room nights sold, with 17.1 million sold in 2022, marking a 12.7 percent increase from the year before.
One of the standout redevelopment projects is the transformation of The Raleigh, a historic property that played a significant role in South Beach’s resurgence in the 1990s. The property, which is where Esther Williams, known as “America’s mermaid,” made the original fleur-de-lis-shaped pool famous, was purchased in 2019 by Michael Shvo for $103 million and is expected to become The Raleigh, A Rosewood Hotel and Residences in 2025. The ambitious project, financed with $190 million from Greg Freedman’s BH3 Management, aims to be a transformational project for Miami Beach, with a reported investment of $1 billion in the preservation and renovation of the hotel. The restoration will also include the development of 44 residences in a brand-new 17-story tower, a private members club, beachfront dining, and an Asaya wellness destination, while preserving the hotel’s famous original pool, Martini Bar, and Tiger Room.
However, the redevelopment plan has faced criticism from preservationists, as it involves demolishing most of the adjacent Richmond and South Seas hotels to make way for the new residence building. Some have expressed concerns that the new tower will detract from the historical charm of the area. Despite this, the project is moving forward, with SHVO’s commitment to preserving the legacy and elegance of The Raleigh.
Another notable project involves the revival of the Shore Club by Auberge Resorts Collection, which includes a new 200-foot residential tower. The Shore Club, originally built in 1939 and reimagined in the early 2000s, has attracted celebrities and high-profile individuals, making it a sought-after destination in Miami Beach. The property is undergoing a transformation to include the Shore Club Private Collection of luxury residences, along with a singular 6,000-square-foot two-story beachfront residence listed for $37.5 million.
Aman Miami Beach is another highly anticipated project, set to open in 2026 in the former Versailles Hotel, which will be paired with a new 22-unit condo tower. The restoration of the Versailles is being overseen by acclaimed architect Jean-Michel Gathy, with a focus on creating a sense of tropical serenity in the 56 guest suites, dining venues, exclusive members-only Aman Club, and Aman Spa. The standalone residential building, designed by renowned Japanese architect Kengo Kuma, will feature 22 branded homes, representing Gathy’s first project in the United States.
Bulgari Hotels & Resorts is also making its debut in Miami Beach with the renovation of the former Seagull Hotel. The essence of the Seagull Hotel, built in 1948, will be incorporated into the elegant design ethos typical of the Bulgari brand. The hotel will feature most of its 100 rooms as suites, an outdoor pool, spa, and a restaurant by Michelin-starred chef Niko Romito, offering a unique and luxurious experience for guests.
The addition of these new towers alongside historic buildings raises questions about how much they will impact the area’s art deco character. Nonetheless, it’s clear that the future of Miami Beach is moving toward a five-star experience, solidifying its status as a premier destination for luxury and sophistication.