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Singapore’s GHM loses out in Miami
Owners of the luxury Setai Resort & Residences in Miami Beach have dumped the property’s management company, Singapore-based General Hotel Management, and brought in new operators.
Trevi Luxury Hospitality Group, based in Dallas, is now operating the hotel.
Setai Owners LLC, affiliated with Lehman Brothers Holdings, also started international arbitration against GHM, according to a statement at the weekend.
The company alleges that the former managers violated terms of a management agreement, the Miami Herald reported.
“Our goal is to improve the profitability, management and overall ‘Setai experience’ for hotel guests and condominium owners,” said Anthony Barsanti, vice president of Lehman Brothers Holdings, in a statement.
“We believe that under the right management, this property has limitless potential.”
Trevi will put a new financial and management structure into place, but most hotel workers will stay employed, the statement said.
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