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Friday, December 11, 2009

Can Playboy save the Sagamore from Foreclosure?


The Sagamore, a Miami Beach hotel, which is behind on its mortgage payments, hopes to hook up with the company that is know for its sexy bunny’s.

Can the Playboy Bunnies keep the Sagamore from being another Miami foreclosure?

That's the question hanging over one of South Beach's most fashionable Miami Beach hotels as it looks for a licensing deal to open the only Playboy Club outside of Las Vegas.

Plans for the Miami Beach hotels cocktail lounge calls for waitresses dressed in the iconic skimpy bunny uniforms to serve drinks in and on the beach behind the 93-room hotel. For top dollar guests could sleep in a decorated Hugh Hefner suite.

Marty Taplin, the owner of The Sagamore says the deal hadn’t been endorsed by the administrator of the tardy loan between the racy brand and a hotel best known for its prized collection of contemporary art.

He sees the Playboy venture as the key to returning profits to the Sagamore and will keep it from being another Miami foreclosure statistic.

"It's an icon,'' Taplin said of the Playboy bunny logo. "I thought it was a great opportunity.''

The Sagamore located at 1671 Collins Avenue, considers itself "The Art Hotel,'' its walls boasting contemporary works assembled by Taplin's wife, Cricket, a significant collector in Miami's art scene. The Sagamore's website calls the hotel an alternative "for those seeking a more enlightened stay on South Beach.''

Taplin would not say why the loan administrator hadn't approved the Playboy deal keeping it from another Miami foreclosure.

But Playboy's reputation clearly is a point of argument.

 

Contributed by MLR Realty



   

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