|By PR Newswire||
|April 16, 2014 05:53 PM EDT||
NEW YORK, April 16, 2014 /PRNewswire/ -- The Raleigh Group, the luxury hospitality group founded by designer and entrepreneur Mr. Tommy Hilfiger, is pleased to announce the purchase of The Raleigh Hotel, Miami Beach.
"The Raleigh Hotel is a true Miami Beach treasure with sophistication and style, making it the perfect property for us," said Mr. Hilfiger. "The 1940's design of The Raleigh and its rich history are central to our plans to rejuvenate the property. I'm really pleased with the team I've surrounded myself with and know that we will deliver a world-class experience worthy of The Raleigh brand."
David Pisor, recently appointed CEO, has demonstrated exceptional leadership in the hospitality industry with an impressive track record, including the award-winning Elysian Hotel and Residences in Chicago, now branded Waldorf Astoria.
"The location and position of the Raleigh in the Miami Beach marketplace is perfect for our strategy," said David Pisor. "We will invest significant resources to preserve the property's unique style while embracing the local flavors and culture that help define it."
The Raleigh will become the company's flagship property supporting our future growth. Formerly owned by David Edelstein and Sam Nazarian, the Miami Beach location will continue to be managed by sbe Entertainment Group.
About The Raleigh Group:
The Raleigh Group is the venture formed by designer and entrepreneur Mr. Tommy Hilfiger. The team at The Raleigh Group, led by CEO David Pisor, is developing a luxury lifestyle hospitality brand that brings to life Mr. Hilfiger's passion for design, architecture and authentic, casual luxury. Mongeau Capital, the private equity arm of the Mongeau family, has joined Mr. Hilfiger to support the development of The Raleigh Group into a premier luxury lifestyle brand in the hospitality industry. The Mongeau family owns the Avington Group, which is internationally recognized as the leading specialized merchant bank focused on the luxury hospitality and real estate sectors. The company has helped develop and implement the strategies of numerous groups now recognized as global leaders in the luxury hospitality industry.
SOURCE The Raleigh Group