Sonesta Key Biscayne Hotel Closing, Rebuilding
KEY BISCAYNE, FL, March 22, 2006. Sonesta International Hotels Corp. will close its Key Biscayne resort in late-August after which the hotel will be demolished to make way for a 350-room luxury condo hotel owned by Sonesta and Fortune International.
Boston-based Sonesta and Miami-based Fortune expect the new property to open in 2009. It will include a full-service spa, restaurants and lounges, and meeting space.
The original hotel opened on the site in 1969. Unlike other resorts which opt to incorporate original buildings into their redevelopment plans, Sonesta felt that in order to fully realize the value of the real estate, it made the most sense to raze the original structure and build from the ground up.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
