The Setai Miami Beach has announced new ownership by Nakash Holdings and the von Furstenberg family. According to Jonathan Bennett, managing director at Nakash, the 120-room hotel was purchased for almost US$90 million from Lehman Brothers.
Nakash will operate the hotel that includes a four-bedroom penthouse, three swimming pools, a spa, and beachfront food and beverage service.
“The Setai has defined luxury hospitality in Miami,” said Alex von Furstenberg. “We feel there is enormous opportunity for the brand and continued growth.”