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 ownership matters.
Fontainebleau Development owns the Fontainebleau Hotel in Miami Beach. Jeffrey Soffer leads this luxury real estate and hospitality group. The Soffer family first acquired the property in 2005 through Turnberry Associates. They completed a $1 billion renovation by 2008. Jeffrey Soffer took full control of the hotel in 2019.
Quick Answer
Jeffrey Soffer owns the Fontainebleau Hotel in Miami Beach through his company, Fontainebleau Development. The Soffer family first bought the hotel in 2005 through Turnberry Associates. Jeffrey took sole control in 2019 after a family business split with his sister Jackie. He also owns the Fontainebleau Las Vegas, which opened in December 2023.
Key Takeaways
- Current Owner: Jeffrey Soffer leads Fontainebleau Development, the company that owns the hotel.
- Purchase History: The Soffer family bought the hotel from Stephen Muss in 2005 for $165 million.
- Renovation: Fontainebleau Development completed a $1 billion renovation by 2008, adding two new towers to the property.
- Las Vegas Connection: Jeffrey Soffer also owns the Fontainebleau Las Vegas, which opened in December 2023.
- Independent Brand: The Fontainebleau is not part of any hotel chain — Fontainebleau Development runs it independently.
Historical Ownership of the Fontainebleau Hotel
The Fontainebleau Hotel has a history that tracks the rise and fall of Miami Beach itself. Hotelier Ben Novack built the property in 1954, designed by architect Morris Lapidus. Novack wanted it to be the most luxurious hotel in the world. For decades, it drew celebrities and presidents alike.
The hotel ran into financial trouble in the 1970s. In 1978, real estate developer Stephen Muss bought the hotel out of bankruptcy for $27 million, saving it from collapse. Muss poured over $100 million into renovations and brought Hilton in to manage the property. He ran the Fontainebleau for nearly 27 years.
The story shifted again in 2005. Turnberry Associates bought the hotel for $165 million. Donald Soffer founded Turnberry in 1969, and his children Jeffrey and Jackie were running the company by that point. That sale launched a massive renovation that turned the resort into the modern landmark it is today.
How Fontainebleau Development Took Control
Today, Fontainebleau Development owns and manages the hotel. This company handles the Soffer family’s luxury hospitality assets.
In 2019, Jeffrey and Jackie Soffer divided Turnberry Associates’ holdings. Jeffrey started Fontainebleau Development and took full ownership of the Miami Beach hotel. He now controls the brand, operations, and future plans.
Note: Jeffrey and Jackie Soffer are siblings, both children of Turnberry Associates founder Donald Soffer. Their 2019 split divided the family’s real estate holdings between them.
Major Renovations
Fontainebleau Development keeps the hotel competitive through consistent investment. After buying in 2005, the ownership group completed a $1 billion renovation by 2008. That project restored the original style from architect Morris Lapidus while adding two new towers, the Trésor and Sorrento, plus updated amenities throughout. The Fontainebleau now holds 1,504 guestrooms and suites across 22 oceanfront acres.
Fontainebleau Las Vegas: Who Owns That Property?
When you research ownership, you might come across names like Witkoff Group or New Valley LLC. These names connect to the Fontainebleau Las Vegas, not the Miami Beach property. Knowing the difference helps.
- Miami Beach: The Soffer family has owned this location since 2005.
- Las Vegas: The Las Vegas project went bankrupt in 2009. Carl Icahn later acquired it, and then the Witkoff Group owned it for a period. In 2021, Jeffrey Soffer bought the property back through Fontainebleau Development, with Koch Real Estate Investments as a financial partner.
Jeffrey Soffer holds primary ownership of the Miami Beach hotel. He works with institutional financial partners on major capital projects, but Fontainebleau Development runs daily operations at both properties.
Beyond Miami Beach: Expanding the Brand
The Fontainebleau name now reaches beyond Florida. The brand hit a major milestone when the Fontainebleau Las Vegas opened in December 2023. This 67-story, $3.7 billion resort brought the Miami Beach aesthetic to the Nevada desert and stands as the tallest occupiable building in Nevada.
By owning both properties, Jeffrey Soffer has built a unified luxury brand. Guests can use the “Fontainebleau Rewards” program at both locations. This growth shows the owners want to carry the hotel’s legendary status into new markets. Miami Beach stays the original home, but the brand now competes on a national stage.
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How Ownership Stability Has Shaped the Hotel
The Soffer family has given the Fontainebleau something rare: steady, long-term leadership. Many hotels switch owners every few years, which can damage a brand’s identity. Fontainebleau Development’s consistent vision has kept the brand sharp and recognizable.
That stability protects the hotel’s history. Features like the famous “Staircase to Nowhere,” created by Morris Lapidus as a theatrical moment of arrival, remain part of the layout. At the same time, the owners have added modern draws like the LIV nightclub and top-tier restaurants. They balance heritage with what today’s travelers expect, and that balance keeps the Fontainebleau among Miami’s most sought-after stays.
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Frequently Asked Questions
Who currently owns the Fontainebleau Miami Beach?
Jeffrey Soffer owns the hotel through his company, Fontainebleau Development. He has held sole control since 2019, when he split assets with his sister Jackie after their family business, Turnberry Associates, divided.
When did the Fontainebleau last change owners?
The Soffer family has owned the Miami Beach location since 2005. The last structural change came in 2019, when Jeffrey Soffer became the sole owner after the Turnberry Associates split. No ownership change has happened since.
Is the Fontainebleau part of Marriott or Hilton?
No. The Fontainebleau runs as an independent resort. It has no affiliation with Marriott, Hilton, or any other major hotel chain. Fontainebleau Development owns and operates it directly, which preserves its distinct identity.
How much is the Fontainebleau Hotel worth?
The property’s value runs into several billion dollars. That figure includes its oceanfront land, more than 1,500 guestrooms, and its portfolio of clubs and restaurants. The brand’s expansion to Las Vegas adds further to its overall value.
Does the same person own the Las Vegas Fontainebleau?
Yes. Jeffrey Soffer’s company, Fontainebleau Development, reacquired the Las Vegas property in 2021 in partnership with Koch Real Estate Investments. The $3.7 billion, 67-story resort opened in December 2023.
The Bottom Line on Fontainebleau Ownership
Jeffrey Soffer and Fontainebleau Development have controlled the Miami Beach hotel since 2019, building on nearly two decades of Soffer family ownership that started in 2005. The steady leadership has protected the hotel’s legacy while growing the brand into Las Vegas. You’re dealing with an independent, family-led operation with deep roots in the property and a clear long-term vision. That ownership isn’t changing anytime soon.
References
- Fontainebleau Miami Beach History Timeline — Fontainebleau.com
- Stephen Muss, developer who helped revive Miami Beach, dies at 97 — WLRN, 2025
- Fontainebleau Miami Beach — Wikipedia
- Fontainebleau Las Vegas — Wikipedia
- Fontainebleau Las Vegas by the Numbers — Las Vegas Review-Journal, 2023