Oh Miami!: $1 Billion Reno Not Enough to Fix Fontainebleau

Fontainebleau lobby bar: Shakin'!

Fontainebleau lobby bar: Shakin

April 2 (Bloomberg) — The ideal Miami getaway goes something like this: Ensconced in a private poolside cabana, you’re brought a steady stream of drinks while beautiful people drift by — and you haven’t a care in the world.

Despite Florida’s housing mess and faltering economy, the Fontainebleau hotel has created a world-outside-the-world feel. Except for the cabana’s flat-screen TV showing 24-hour news, I could easily have been in the hotel’s 1950s heyday, divorced of current cares. I could barely muster enough concern to ponder my next drink order.

That’s lucky for the Fontainebleau, as the owners spent $1 billion renovating the iconic semi-circular structure on 22 acres of Miami Beach, including the construction of two all- suite towers for a total of 1,504 guest rooms. With vacancy rates nationwide the highest in years, that’s a lot of space to fill. {Click to read on Bloomberg News} Continue reading…