MIAMI Lionstone Hotels and Resorts, a developer based here, said it plans to upgrade the Dupont Plaza Hotel and lease out its largely vacant office space. The developer plans to take out a long-term lease on the property, begin renovations this spring and complete the work within 18 months. The 297-room hotel featuring 160,000 square feet of office space and 140 apartment units, is owned by a trust formed by the Goldman family, major New York landowners.
Under Lionstones proposal, 146 rooms at the Dupont Plaza would be operated by Marriott Residence Inn while another 297 hotel rooms would be upgraded and managed by another national hotel operator. The building needs at least $20 million in improvements to upgrade its facilities. (1/17/01)
SOURCE:The Miami Herald