- Lifestyle Hospitality Capital (LHC) Group has acquired The Gates Hotel South Beach, in Miami, Florida, in an off-market transaction, securing a strategic hotel for its growing portfolio
- Dean Group, an integrated lifestyle hotel platform actively expanding across Europe and the US, is a joint venture between LHC and funds advised by Elliott Investment Management L.P.
London, 11 December 2024 – An investment vehicle managed and led by Lifestyle Hospitality Capital (LHC) Group, and backed by funds advised by Elliott Investment Management L.P., announced today that it has acquired The Gates Hotel South Beach. The 235-room hotel will undergo a transformative renovation, following which it will be rebranded as The Dean – Miami Beach. As a US flagship hotel of the Dean Group, the new design and concept will deliver a unique lifestyle hotel product and an exciting bar, restaurant, pool and rooftop experience.
The hotel will be operated under The Dean brand, part of the Dean Group which operates other leading lifestyle hotels such as The Clarence, The Mayson and The Leinster, as well as award-winning restaurants and bars such as Sophie’s, Ryleigh’s and Layla’s in Europe.
Keith Evans, Founder & CEO of LHC, commenting on the acquisition, said: “We are thrilled to have acquired such a high-profile hotel in the fast-evolving Miami Beach hotel market. The Gates Hotel South Beach offers significant potential for repositioning into one of Miami’s leading lifestyle hotels. This is an exciting first move for The Dean brand as it begins to build its presence across the US, following the recent expansion of the Dean Group into Munich and Berlin.”
About the Dean Group
Dean Group is a dedicated hotel real estate, brand and management platform. Based in Dublin, the Group includes eleven distinctive freehold hotels across Ireland, Germany and the US, comprising around 1,350 hotel rooms (including ongoing developments), 35+ bars, restaurants and wellness facilities. The unique design of each hotel contributes to the cultural fabric of the local communities and supports and promotes art, culture, music and nightlife.
About Lifestyle Hospitality Capital (LHC) Group
LHC is a global investment management platform that provides partners with dedicated access to a diversified range of value-add investment opportunities across the entire spectrum of lifestyle hospitality and operational real estate. Founded in 2023, LHC has established a unique team of private equity and lifestyle hospitality real estate specialists focused on investing in global hospitality real estate, brands and operating platforms. www.lhc-group.com
About Elliott Investment Management L.P.
Elliott Investment Management L.P. manages approximately $69.7 billion of assets as of June 30, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.
Media Contacts
Camarco: Julia.Tilley@Camarco.co.uk / +44 7586 722 84
Letaba.Rimell@camarco.co.uk / +44 7900 121 128