On August 4th, there will be a
landmark groundbreaking of the historic Royal Palm Crowne Plaza Resort
in Miami Beach. This event, which marks the culmination of more
than two years of project development to secure public/private
financing for the redevelopment of The Royal Palm and The Shorecrest
hotels, breaks historic ground on many fronts:
Developed by R. Donahue Peebles, President/CEO of the wholly African-American-owned PADC, the resort will be the nation’s first African-American majority-owned, four-star hotel. It is part of a settlement that ended the 3-year black tourism boycott called in ’93 after Miami politicians snubbed South Africa president Nelson Mandela.
$64 million project has evolved into a national model for
minority-hotel development. Peebles has promised that up to 50%
of the resort’s economic impact will flow into minority
communities. A minimum of 25% of the upper level management will be
comprised of minorities, and efforts will be made to ensure that at
least 50% of the 200+ employees are minority. The hotel will also
create significant opportunities for minority contractors and vendors.
Royal Palm Crowne Plaza Resort is an innovative example of how a
public/private partnership can successfully contribute to the revival
of a major downtown area. The final beach-front piece in a major
256-acre tourist area near Miami Beach’s new convention center,
the 422-room resort will create much-needed lodging for
convention-goers. It will provide a major boost to South
Florida’s booming economy and play a vital role in the expansion
of Miami’s economic base.
by world-renowned architectural firm Arquitectonica, the resort is the
first major hotel (other than the nearly Loews Miami Beach) to be built
in Miami Beach in more than twenty years. It will blend the
firm’s distinctively modernistic Art Deco theme with an elegant
restoration of the original hotels’ facades and
We’d like to invite you
to cover the ground breaking and/or interview Don Peebles. This
38-year old entrepreneur, who recently opened a Miami office with his
wife/partner Katrina, has an extensive national real estate portfolio
(virtually all private/public partnerships) with a total worth of
almost $200 million. His strategic plan calls for the development of
more than twenty four- and five-star hotels over the next five years.
Peebles intends to continue
forging joint ventures with the nation’s top hotel chains, which
are increasingly looking to partner with minority-owned firms to
capture a major share of the burgeoning, $35 million minority tourism
market. He is also seeking an infusion of $500 million from
institutional investors that would bring him 4,000 rooms closer to his
goal of building 10,000 rooms nationwide.
I will call you shortly, or you can contact me at 561/218-9990.