MIAMI
According to various industry reports, the famed Delano Hotel South Beach in Miami is being sold by the New York City-based Morgans Hotel Group.
Reports from Travel Weekly and other sources indicate that Morgans is selling the property to primary debtholder Yucaiapa to reduce its debt obligations.
Morgans has operated the iconic property since 1995. Substantial upgrades were made to the hotel last year before it went on the market. The property has 196 guest rooms and about 4,500 square feet of meeting space.
Morgans will reportedly continue to operate the hotel.
