Last Updated on July 23, 2026 by Daniel Globe
The Fontainebleau Hotel in Miami Beach has survived bankruptcy, a billion-dollar overhaul, and a high-profile family business split. Through it all, one family has kept control. This article covers who owns the Fontainebleau today, how it changed hands over seven decades, and why that steady, independent ownership matters for Miami Beach’s most famous oceanfront resort.
Quick Answer
Jeffrey Soffer owns the Fontainebleau Hotel in Miami Beach through his company, Fontainebleau Development. The Soffer family originally bought the property in 2005 through Turnberry Associates for $165 million. Jeffrey took sole control in 2019 following a family business split with his sister, Jackie Soffer. He also owns the Fontainebleau Las Vegas, which opened in December 2023.
Key Takeaways
- Current Owner: Jeffrey Soffer leads Fontainebleau Development, the premier luxury real estate group that owns and operates the hotel.
- Purchase History: The Soffer family acquired the hotel from real estate developer Stephen Muss in 2005 for $165 million.
- $1 Billion Renovation: The family completed a massive $1 billion transformation in 2008, adding two new all-suite towers (Trésor and Sorrento).
- Las Vegas Sister Property: Jeffrey Soffer also owns Fontainebleau Las Vegas in partnership with Koch Real Estate Investments.
- Fully Independent Brand: The hotel operates as an independent luxury resort with no corporate affiliation with chains like Marriott or Hilton.
Historical Ownership of the Fontainebleau Hotel
The Fontainebleau Hotel has a storied past that closely mirrors the rise, decline, and modern re-emergence of Miami Beach as a world-class luxury destination.
Hotelier Ben Novack built the iconic property in 1954 on the former Harvey Firestone estate. Designed by famed modernist architect Morris Lapidus, the hotel featured a sweeping curvilinear facade, grand lobbies, and the theatrical “Staircase to Nowhere.” Novack envisioned it as the premier luxury resort in the world, and for two decades, it attracted Hollywood stars, musicians, and U.S. presidents.
Despite its popularity, the resort ran into severe financial hardship during the economic downturn of the 1970s. In 1978, real estate developer Stephen Muss acquired the Fontainebleau out of bankruptcy court for $27 million, saving the iconic property from collapse. Muss invested over $100 million into extensive renovations and brought in Hilton Hotels to manage daily operations, guiding the resort through nearly 27 years of stable growth.
The ownership trajectory changed permanently in 2005 when Turnberry Associates purchased the property from Muss for $165 million. Founded in 1969 by Donald Soffer, Turnberry was co-led by Donald’s adult children, Jeffrey and Jackie Soffer. That purchase launched a complete overhaul, restoring the original Lapidus architectural elements while modernizing the property for modern luxury travelers.
“The Fontainebleau isn’t just a hotel; it represents the architectural soul and glamour of Miami Beach. Maintaining independent family ownership ensures that heritage remains intact.”
How Fontainebleau Development Took Control
Today, Fontainebleau Development owns, manages, and directs all long-term strategy for the resort. The company was created specifically to oversee Jeffrey Soffer’s premier portfolio of hospitality, residential, and commercial real estate assets.
In 2019, siblings Jeffrey Soffer and Jackie Soffer officially restructured Turnberry Associates and split their vast real estate holdings. Jackie took control of assets like the Aventura Mall, while Jeffrey launched Fontainebleau Development and assumed 100% ownership of the Fontainebleau Miami Beach. This split gave Jeffrey sole executive command over the brand’s operational strategy, international expansion, and capital management.
Note: Jeffrey and Jackie Soffer are the children of Turnberry Associates founder Donald Soffer. Their amicable 2019 asset split allowed each sibling to independently lead distinct portfolios within luxury real estate and retail development.
Major Renovations & Expansion
Fontainebleau Development maintains the resort’s high standard through continuous reinvestment. Following their initial purchase in 2005, the Soffer family executed a $1 billion complete overhaul that temporarily closed the main hotel for two years before reopening in late 2008.
This landmark project preserved Morris Lapidus’ historic bow-front building design while constructing two brand-new luxury oceanfront towers: the 37-story Trésor and the 18-story Sorrento. Today, the 22-acre oceanfront estate features 1,504 luxury guestrooms and suites, 12 world-class restaurants and lounges (including Hakkasan and StripSteak by Michael Mina), the famous LIV nightclub, and a 40,000-square-foot Lapis Spa.
Fontainebleau Las Vegas: Who Owns That Property?
When researching Fontainebleau ownership, investors and travelers frequently encounter corporate names like the Witkoff Group, Carl Icahn, or New Valley LLC. These entities relate specifically to the complex history of the Fontainebleau Las Vegas, rather than the Miami Beach flagship property.
| Property | Current Ownership | Acquisition / Opening Details |
|---|---|---|
| Fontainebleau Miami Beach | Fontainebleau Development (Jeffrey Soffer) | Acquired in 2005 for $165M; sole ownership consolidated in 2019. |
| Fontainebleau Las Vegas | Fontainebleau Development & Koch Real Estate Investments | Originally conceived in 2005; reacquired in 2021; opened December 2023. |
Jeffrey Soffer initially broke ground on the 67-story Las Vegas project in 2007, but the Great Recession forced the unfinished tower into bankruptcy in 2009. Billionaire investor Carl Icahn bought the project in 2010, and Steve Witkoff’s Witkoff Group acquired it in 2017. In 2021, Jeffrey Soffer reacquired the property in partnership with Koch Real Estate Investments, successfully completing the $3.7 billion luxury casino resort, which opened in December 2023.
Beyond Miami Beach: Expanding the Brand
The Fontainebleau brand has expanded far beyond Florida. The grand opening of Fontainebleau Las Vegas marked a pivotal milestone, establishing the brand as a national powerhouse in luxury hospitality and gaming.
Standing at 67 stories, Fontainebleau Las Vegas is the tallest occupiable building in Nevada. By retaining direct ownership and operational management over both the Miami Beach and Las Vegas resorts, Jeffrey Soffer has built an integrated luxury hospitality ecosystem. Guests across both properties share access to unified guest experiences, signature nightlife concepts, and the shared Fontainebleau Rewards loyalty program.
Pro Tip: Travelers enrolled in the Fontainebleau Rewards program earn points and redeem luxury perks seamlessly whether staying at the iconic oceanfront Miami Beach resort or the Strip-side casino resort in Las Vegas.
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How Ownership Stability Has Shaped the Hotel
In an era where major luxury hotel properties frequently change hands among real estate investment trusts (REITs) and private equity funds, the Soffer family has provided two decades of exceptional stability.
This long-term, independent stewardship protects the historic integrity of the resort. Legacy architectural achievements—such as Morris Lapidus’ theatrical “Staircase to Nowhere” and signature marble cheese-wall cutouts—remain preserved. Simultaneously, Fontainebleau Development continuously introduces modern draws like high-profile culinary partnerships and high-energy entertainment options. This careful balance between historical preservation and forward-thinking luxury keeps Fontainebleau among Miami’s most sought-after resorts.
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Frequently Asked Questions
Who currently owns the Fontainebleau Miami Beach?
Jeffrey Soffer owns the Fontainebleau Miami Beach through his private real estate and hospitality company, Fontainebleau Development. He assumed sole ownership in 2019 following a division of assets with his sister, Jackie Soffer.
When did the Fontainebleau last change owners?
The Soffer family acquired the hotel from Stephen Muss in 2005. The last internal ownership restructuring occurred in 2019 when Jeffrey Soffer took full ownership through Fontainebleau Development during the restructuring of Turnberry Associates.
Is the Fontainebleau part of Marriott or Hilton?
No. The Fontainebleau Miami Beach is an independent luxury resort. It is not affiliated with Marriott, Hilton, or any multinational hotel chain. Fontainebleau Development independently owns, manages, and operates the resort.
How much is the Fontainebleau Hotel worth?
The Fontainebleau Miami Beach is valued at several billion dollars. Its valuation stems from its prime 22-acre oceanfront location, 1,504 luxury rooms and suites, extensive convention space, and lucrative dining and entertainment venues.
Does the same person own the Las Vegas Fontainebleau?
Yes. Jeffrey Soffer’s company, Fontainebleau Development, reacquired the Las Vegas resort in 2021 in partnership with Koch Real Estate Investments. The $3.7 billion, 67-story resort officially opened in December 2023.
The Bottom Line on Fontainebleau Ownership
Jeffrey Soffer and Fontainebleau Development have guided the Miami Beach resort since 2019, building upon more than two decades of Soffer family ownership initiated in 2005. This dedicated, independent leadership has successfully preserved Morris Lapidus’ iconic architecture while scaling the Fontainebleau brand into a national luxury force. As an independently operated, family-led hospitality enterprise, the Fontainebleau’s ownership remains one of the most stable and successful in modern luxury real estate.
Sources
- Fontainebleau Miami Beach History Timeline — Fontainebleau.com official timeline
- Stephen Muss, developer who helped revive Miami Beach, dies at 97 — WLRN Public Media
- Fontainebleau Miami Beach Overview — Wikipedia landmark history
- Fontainebleau Las Vegas Property Details — Wikipedia construction and ownership timeline
- Fontainebleau Development Portfolio — Official corporate leadership and development updates