Regions Southeast | Miami
Uncertain Future for Historic Miami Hotel
May 5, 2008
Source: Miami Herald

What is the problem with the Royal Palm hotel in Miami's South Beach? That's the question being asked by the Miami Herald, which reports that the historic hotel enjoys a great location but not a secure financial situation.

Citing an overdue loan and mismanagement, lenders have tried to take back the resort from majority owner Guy Mitchell, according to the Herald. "This hotel, quite frankly, has languished," Jones Lang LaSalle Hotels spokesperson Gregory Rumpel told the newspaper. "They have not been running this hotel to its potential by any means."

 
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