If you want to know who owns the famous Fontainebleau Hotel in Miami Beach, the answer is a major South Florida real estate family. The hotel has changed hands a few times since it opened in 1954. Today, it is the top property for Fontainebleau Development, led by Jeffrey Soffer.
Fontainebleau Development owns the Fontainebleau Hotel in Miami Beach. Jeffrey Soffer leads this luxury real estate and hospitality group. The Soffer family first bought the property in 2005 through Turnberry Associates. They spent over $1 billion on renovations. Jeffrey Soffer took full control of the hotel in 2019.
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.
- Las Vegas Connection: Jeffrey Soffer now owns the Fontainebleau Las Vegas as well. That resort opened in December 2023.
- Investment: The owners have spent over $1 billion to keep the Miami Beach hotel modern and luxury.
Historical Ownership of the Fontainebleau Hotel
The Fontainebleau Hotel has a history that matches the growth of Miami Beach. Hotelier Ben Novack built the property in 1954. Novack wanted it to be the most luxurious hotel in the world. For decades, it was a favorite spot for celebrities and presidents.
The hotel struggled with money in the 1970s. In 1978, real estate developer Stephen Muss bought the hotel. His purchase saved it from bankruptcy. Muss improved the property and ran it for almost 30 years.
The story changed again in 2005. Turnberry Associates bought the hotel. This was the Soffer family business. This sale started a huge renovation project. It turned the resort into the modern icon people visit today.
The Role of Fontainebleau Development
Today, Fontainebleau Development owns and manages the hotel. This company is the part of the Soffer family empire that focuses on luxury hotels.
In 2019, Jeffrey and Jackie Soffer split the assets of Turnberry Associates. Jeffrey Soffer started Fontainebleau Development. He took full ownership of the Miami Beach hotel. He now leads the hotel’s brand, operations, and future plans.
Major Renovations
Fontainebleau Development keeps the hotel competitive through constant updates. They finished a $1 billion renovation shortly after buying the hotel in 2005. This project brought back the original style created by architect Morris Lapidus but added modern features.
The Las Vegas Confusion
When you look up ownership, you might see names like Witkoff Group or New Valley LLC. These names are linked to the Fontainebleau Las Vegas, not the Miami Beach property. It helps to know the difference between the two.
- Miami Beach: The Soffer family has owned this location since 2005.
- Las Vegas: This project was complicated. Jeffrey Soffer sold it in 2009. Other investors, like Carl Icahn and Witkoff, owned it later. But in 2021, Jeffrey Soffer bought the Las Vegas property back with help from Koch Real Estate Investments.
Jeffrey Soffer is the main owner of the Miami Beach hotel. He sometimes works with financial partners like Goldman Sachs for big projects. But his company still holds the ownership and runs the hotel every day.
Beyond Miami Beach: Expanding the Brand
The Fontainebleau name is growing beyond Florida. The brand reached a major milestone when the Fontainebleau Las Vegas opened its doors in late 2023. This 67-story resort brought the Miami Beach style to the Nevada desert.
By owning both properties, Jeffrey Soffer has created a unified luxury brand. Guests can now use the “Fontainebleau Rewards” program at both locations. This growth shows that the owners want to take the hotel’s legendary status to new markets. While Miami Beach remains the original home, the brand is now a national player in the luxury world.
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How Ownership Affects the Hotel
The Soffer family has provided steady leadership for the Fontainebleau. Many hotels change owners every few years, which can make things messy. The long term vision of Fontainebleau Development has kept the brand consistent.
This steady ownership protects the history of the hotel. Features like the famous “Staircase to Nowhere” stay part of the design. At the same time, the owners have added modern spots like the LIV nightclub and top tier restaurants. They balance the hotel’s past with what modern travelers want. This balance keeps the Fontainebleau one of the most popular places to stay in Miami.
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FAQs
Who currently owns the Fontainebleau Miami Beach?
Jeffrey Soffer owns the hotel through his company, Fontainebleau Development.
Did the Fontainebleau change owners recently?
The Soffer family has owned the Miami Beach location since 2005. The only recent change was in 2019, when Jeffrey Soffer became the sole owner after a family business split.
Is the Fontainebleau part of Marriott or Hilton?
No. The Fontainebleau is an independent resort. It is not part of Marriott, Hilton, or any other chain. This helps it keep its own unique style.
How much is the Fontainebleau Hotel worth?
The value changes, but the property is worth several billion dollars. This includes the oceanfront land, more than 1,500 rooms, and its famous clubs and restaurants.
Does the same person own the Las Vegas Fontainebleau?
Yes. Jeffrey Soffer’s company re-bought the Las Vegas property in 2021. He partnered with Koch Real Estate Investments to finish and open that resort.
Final Thoughts
The Fontainebleau Hotel in Miami Beach succeeds because of the vision of Jeffrey Soffer and Fontainebleau Development. While Ben Novack started the story in the 1950s, the Soffer family made it what it is today. By keeping the Miami property stable while expanding to Las Vegas, the owners have made sure the Fontainebleau name remains a legend in the hotel industry.