Through a joint venture with an affiliate of Hudson Capital, The Morgans Hotel Group acquired an apartment building on Biscayne Bay in South Beach, Miami that will be converted into a Mondrian hotel. The project will mark the brand's fourth property, joining hotels in Los Angeles, Scottsdale and another under development in Las Vegas. The 342-unit property will have studios, one- and two-bedroom units, and four penthouse suites, some or all of which will be sold as condominiums with the option of participating in a rental program. Private VIP boat slips will be available for guests to participate in sailing and yachting. The Morgans Hotel Group also operates the Delano and the Shore Club in Miami.
