Hostile Takeover At Popular Luxury Hotel For Beach Miami Holidays

images2

One of the most sought after Miami hotels- the Setai South Beach has recently undergone an unusual management shake-up. The hotel, owned by Setai Owners LLC (a unit of Lehman Brothers) was managed by Singapore based firm General Hotel Management (GHM) until a hostile takeover on 31st March 2012 which saw GMH replaced by Trevi Luxury Hospitality Group a firm which specialises in luxury hotels and resorts.

GMH was ousted in a dramatic style, reminiscent of a something straight out of a film, with owners of the Setai South Beach arriving with armed guards at 2:30 am announcing the management change.

According to a press release from GMH, Representatives from Lehman Brothers arrived at the hotel with armed guards and off duty sheriff officers in uniform in the early morning hours on March 31st. They informed us that they were taking over the property and that General Hotel Management (GHM) was no longer welcome on the property. These actions took us by surprise, as we had no prior indication they were intending to do this, nor were we under the impression that they were unhappy with our performance. We had just achieved the second best financial performance year since the inception of the hotel, not an easy accomplishment in the current economic environment

The luxurious hotel has proven to be one of the most popular with travellers spending Miami holidays in South Beach. The Setai is currently ranked 14 out of 204 Miami Beach hotels on popular travel review website TripAdvisor. However, based on the information gathered following a request for arbitration at the International Court of Arbitration of the International Chamber of Commerce in Paris, Lehman Brothers claim that under the GMHs inefficient management the hotel was not as profitable at it should be claiming that GMH squandered $7.6 million in incremental profit.

The Setai South Beach boasts three swimming pools, a spa- perfect for unwinding after the shopping sprees that most travellers relish when booking holidays in Miami, guests can also enjoy a wide range of dining facilities as well as the picturesque landscaping echoing the serene minimalist Asian-inspired motif woven throughout the hotels decor.

A single nights stay at this lavish hotel in Miamis trendy South Beach can cost anywhere upwards of $725 USD. Given all that the hotel has to offer there is no doubt that despite the peculiar circumstances under which management changed hands, guests will continue to enjoy first class accommodation during their Miami holidays. Vice president of Lehman Brothers Holdings, Anthony Barsanti expressed optimism stating, We believe that under the right management, this property has limitless potential.

Related Posts

This entry was posted in Hotels. Bookmark: permalink.

Recomended Sites



Sea Vu Play is Seminyak's leading sports bar. We have a full schedule of sporting fixtures which are streamed live on large screen TVs throughout the venue. Watch all of the big matches in a fun and family friendly environment. Sea Vu Play Bali is staffed by a crew with a philosophy of fun and their aim is to share that outlook on life with you during your visit. Call by on any day of the week and you can be sure that good times will be rolling.

Patagonia Xpress is Bali’s newest, largest, and most luxurious fast boat transporting passengers from Bali to Gili Islands, Lombok. The Patagonia Xpress is the reliable, fast and comfortable way of reaching Indonesia’s famed Gili Islands.Visit https://www.patagonia-xpress.com/ You may check the scheduling and pricing page for our current departure times, and join us for your Gili transfers. Book online and travel in style and comfort on the Patagonia Xpress – the best Gili fast boat there is.

Bali Villas and More has searched the island and hand selected only the best villas. We have villas in all of Bali’s popular holiday locations, to suit every budget. We’ll save you hours of time and make booking your villa hassle free. Bali Villas and More got a range of villas and hotels for every budget across the island. Your dream holiday in tropical paradise is just a click away. Whatever your requirements, you can rest assured that Bali Villas and More will find you the perfect villa.

Hu’u Villas offer you the very best Bali villas Seminyak. Located in downtown Petitenget, stay in the heart of the action within easy walking to distance to an unbeatable range of high end restaurants, bars, shopping, nightlife and the beach. Our villa in Bali Seminyak allows you to indulge in the benefits of 5-star service, whilst still luxuriating in the many plus points of staying in a private villa – your own private pool and sun deck, and extra space for relaxation and socialising.

Recent Posts

Best Links

Copyright © 2017 Emicia Travelling