The James Royal Palm has been
sold and will join Starwood Hotels & Resorts’ yet-to-be named
collection of independent hotels.
Temporarily, the hotel will operate under Starwood's Luxury Collection brand, and is slated to join the collection of independent hotels by June.
Chesapeake Lodging Trust acquired
the 393-room South Beach hotel from KSL Capital Partners for $278 million, or about
$707,000 per room. The beachfront hotel, which had been operating under
Denihan Hospitality’s James brand, is now the Royal Palm, Miami-South Beach.
HEI Hotels and Resorts has taken
over management of the hotel.