The NBA's Miami Heat has inked a partnership with private equity management firm CGI Merchant Group through the summer of 2016. CGI acquired a 56-room hotel ajust blocks from the AmericanAirlines Arena, where the Heat plays. The hotel will undergo a $21-million renovation and subsequently as a ME by Meliá, the brand's first hotel stateside.
CGI has already invested $74 million in the property, which will also feature a STK Rebel Steakhouse. The hotel is slated to open this fall, and ME by Meliá will be the preferred hotel of the Miami Heat and AmericanAirlines Arena.
“Through CGI’s various local real estate projects, the Miami area, namely downtown, takes yet another step toward cementing its reputation as a world-class travel and entertainment destination,” said Eric Woolworth, president of The Heat Group’s Business Operations.
“The opening of the first ME by Meliá Hotel in the United States is indicative of CGI Merchant Group’s commitment to enhancing the Miami skyline and contributing to the luxury flair of the Biscayne corridor – something our partnership with The HEAT Group wholeheartedly reflects,” said Raoul Thomas, CEO, CGI Merchant Group. “This high-end property will boast 129 renovated rooms, two rooftop pool areas, and a state-of-the-art spa facility all synonymous with Meliá Hotels’ signature properties worldwide.”
CGI’s partnership with the Miami HEAT will consist of in-game promotions and advertising along with local community events and programs. In addition to the ME by Meliá Hotel property, CGI is currently spearheading the renovation of other South Florida properties including 55 Miracle Mile in Coral Gables and Wellington Commons in West Palm Beach.