The Edgewater Hotel in South Beach Fla., was purchased by Marriott International. The property will be re-cristened the Marriott Vacation Club, South Beach.
Marriott purchased the hotel for $23.5 million. The 49-room property was constructed in 1936, and will undergo refurbishments during its conversion to a Marriott brand. However, the infrastructure changes will not take place and the property will retain its historical significance.
The hotel is expected to complete its updates by early 2017.
Source: Miami Herald