W Hotels Worldwide, part of Starwood Hotels and Resorts Worldwide, Inc. (NYSE: HOT) and storied developers Related Companies and The Related Group today announced comprehensive renovation plans for W Fort Lauderdale and The Residences at W Fort Lauderdale. Related will reimagine 147 luxury condominium residences in the property’s West Tower and oversee a complete revamp of the hotel’s expansive public spaces, amenities and guestrooms.
Related Companies’ fund management platform acquired the property last year, and The Related Group and Related ISG will lead the residential sales effort. The award-winning design house, Meyer Davis Studio, has been tapped to re-envision the entire W Fort Lauderdale visual experience. The project includes renovating hotel rooms, condominium hotel residences, the oceanfront pool area, the brand’s signature Living Room (the W take on the staid hotel lobby), the welcome desk, FIT- W’s state of the art fitness center, and its meeting and conference spaces.
Renovations are expected to commence in stages over the course of 2015.
“The reimagination of the W Fort Lauderdale Hotel and Residences is an ideal fit for Related’s development expertise. As one of the only newly constructed luxury residences available for sale on Ft. Lauderdale beach, The Residences at W Fort Lauderdale are well positioned to capture the demand in the current economic market,” said Justin Metz, Managing Principal of Related Fund Management. “The cutting-edge design and high-end service, combined with the strength of the W brand and competitive pricing offers an unsurpassable value for oceanfront property in Fort Lauderdale.”
“This type of oceanfront opportunity no longer exists in Miami at any price,” said Jorge Perez, Founder and Chairman of The Related Group. “We’re creating a fresh, contemporary version of a beach home for people who want to own a piece of a branded hotel environment.”
“We are excited by the opportunity that will be generated from partnering with the well-established Related team,” commented Marylouise Fitzgibbon, General Manager of W Fort Lauderdale. “When renovations are completed, W Fort Lauderdale will be one of the crown jewels in the W portfolio.” Related ISG, a joint venture of the Related Group and ISG Realty, will lead the sales effort. Residences range from 800 to 1,500 square feet, with pricing from the low $500,000s and occupancy immediately available. The onsite sales office is now open on the 23rd floor, with a temporary sales office on the ground floor. Further information is available at www.wfortlauderdaleresidences.com.
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About W Hotels Worldwide W Hotels is a contemporary, design-led luxury lifestyle brand and the industry innovator with 46 hotels and retreats, including 17 W-branded residences, in the most vibrant cities and exotic destinations around the world. Inspiring, iconic, innovative and influential, W Hotels provides the ultimate in insider access, offering a unique mix of cutting-edge design and passions around fashion, music and entertainment. W Hotels offers a holistic lifestyle experience that is integrated into the brand’s sensibility through contemporary restaurant concepts, glamorous entertainment experiences, stylish retail concepts, signature spas and inspiring residences. With 15 years of proven success, W Hotels is on track to reach more than 60 hotels by 2018. W Hotels have been announced for Amsterdam, Shanghai, Tel Aviv, Abu Dhabi, Dubai, Amman, Jakarta, Panama, Muscat, Suzhou, Changsha, Chengdu, New Delhi, Kuala Lumpur, Shenyang, Marrakech and Brisbane, while upcoming W Retreats include Goa, Phuket, Hainan Island and Mexico’s Riviera Maya. For more information, visit www.whotels.com, www.whotels.tumblr.com or www.facebook.com/whotels. To live the W Hotels lifestyle 24/7/365, visit www.wresidences.com. Follow @WHotels on Twitter and Instagram.
About Related Companies Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London, São Paulo and Shanghai and boasts a team of approximately 3,000 professionals. The Company’s existing portfolio of real estate assets, valued at over $20 billion, is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier high-barrier-to-entry markets. Related has developed preeminent mixed-use projects such as Time Warner Center in New York and CityPlace in West Palm Beach and is currently developing the 28-acre Hudson Yards project on Manhattan’s west side. Related also manages approximately $3 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices. For more information about Related Companies please visit www.related.com.
About The Related Group Established in 1979, The Related Group is Florida's leading developer of sophisticated metropolitan living and one of the country's largest real estate conglomerates. Its innovative residential developments, that reach cross-market sectors, have dramatically altered South Florida's urban landscape. Since its inception, the privately held company has built, rehabilitated and managed more than 90,000 condominium and apartment residences. The Related Group has earned international status for its visionary designs and development of luxury condominiums, market-rate rentals, mixed-use centers and affordable properties – often in emerging neighborhoods that impact the lives of all demographics. The firm is one of the largest Hispanic-owned businesses in the United States with a development portfolio of projects in excess of $15 Billion. The Related Group has redefined the new cycle of real estate by diversifying both its products and buyers, expanding internationally with projects in Mexico, India and Brazil, while sponsoring public art installations that enhance the city’s global culture and streetscapes. TIME Magazine named Founder, Chairman and CEO of The Related Group, Jorge Pérez, one of top 25 most influential Hispanics in the United States, and he’s made the cover of Forbes twice. Currently, The Related Group has over 50 projects in varying phases of development, led by Chief Operating Officer, Matt Allen, and five division presidents, including Carlos Rosso, President of Related Condominium; Steve Patterson, President of Related Development; Albert Milo, President of Related Urban Development; Lissette Calderon, President of International & Strategic Projects; and Larry Lennon, President of TRG Management.
Zakarin Martinez Public Relations /
Jacquelyn McCaw Jacquelyn@ZM-PR.com /
Joanna Rose, Related Companies