Fashion designer Tommy Hilfiger is currently in negotiations to buy The Raleigh Hotel in Miami's South Beach, which carries a reported $100 million price tag.
“I’ve always wanted a hotel property,” Hilfiger said. “We’re going to turn it into a five-star chic hotel with all the amenities.”
The 74-year-old Art Deco hotel is just the first of many planned hotels for Hilfiger, who recently launched Hilfiger Hospitality, a venture centered around "fashion, art, music and entertainment." Hilfiger is reportedly pursuing properties in both US and international markets.