Miami Florida real estate, Miami commercial real estate
Ian Schrager the hotel mogul that was instrumental in the creation of the boutique hotel concept is rumored to exit the South Beach market. He is the founder of the Royalton and the Paramount hotel in New York and the Delano in South Beach.
A year and half after he purchased the Ocean Front Rinde Intercontinental on 18th and Collins he purchased another property in downtown Miami. It is believed that those two properties are back on the market and if the transaction occurs a substantial profit would be earned.
A spokesperson for the Ian Schrager group declined to comment. He abandoned his responsibilities at the Morgan hotel group in 2005. This group is the owner of the Delano and is a small shareholder of the Shore club
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