MIAMI— Larry Levy, chairman of Chicagos Levy Restaurants, has entered the hotel business, acquiring The Fairfax in South Beach. The property is being reconfigured into 53 luxury suites and is scheduled to open in fall 2007. Suites are being marketed on a fractional-ownership basis and will be part of the hotel inventory when not in use by owners. The hotel also will feature a branch of Levys Chicago restaurant Spiaggia. Designer Todd Oldham is working on concepts for both the hotel and restaurant.
