Los Angeles-based hotelier Sam Nazarian will open the new 140-room SLS Hotel in South Beach tomorrow after eight years of development and more than $80 million, the Miami Herald reported. The new luxury hotel, which is located at 1701 Collins Avenue, will be the second SLS built after the inaugural Beverly Hills location. Two more SLS hotels are planned for New York in 2013 and Los Vegas in 2014. A second Miami location at American Airlines Arena is also being considered.
The South Beach SLS features designs by Philippe Starck and rocker-turned-designer Lenny Kravitz, and two SEB brand restaurants. The hotel integrates the original 1939 Art Deco building with an adjacent building composed of ten villas, the Hyde Beach lounge and six bungalows. “I’m always a little bit jaded about hotel openings but I’m genuinely truly, truly excited about this one,” said Juliana Shallcross, HotelChatter.com managing editor. “I can’t wait to see what they do with it because they have so much going on in one property.”
Nazarian co-owns the property with CIM Group. The project was partially funded through a $51.2 million loan from a Lowe Enterprises Investors pension fund. Opening weekend rates will start at $375 per night. [Miami Herald]