The legendary Miami hotel appeared on the verge of bankruptcy

The legendary Miami hotel appeared on the verge of bankruptcy

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One of the most famous Miami hotels - Fontainebleau Miami Beach - is on the verge of bankruptcy. The total hotel debt exceeds $ 60 million. Lenders require a speedy repayment of debt from Fontainebleau Miami Beach.

Fontainebleau Miami Beach Hotel has finished an extensive renovation not long ago, which cost the owners a total of $ 650 million. The grand opening of the renovated hotel in Miami in 2008 was attended by dozens of celebrities, including famous models, pop musicians, athletes and movie stars.

Fontainebleau Miami Beach Hotel is one of the most famous historic hotels in Miami Beach. It was built in 1954 by famous architect Morris Lapidus. Immediately after the completion of construction and during subsequent decades Fontainebleau Miami Beach was considered, perhaps, the most luxurious and expensive hotels of Miami. The hotel is located on the Atlantic coast, in Millionaires Mile district, among the luxury residences and villas. Total number of rooms in the hotel - 1504. Fontainebleau Miami Beach has 11 restaurants, several swimming pools and a gigantic spa complex with a total area of about 20 000 square meters.

The guest of Fontainebleau Miami Beach at different times were many celebrities from film stars to U.S. presidents. Fontainebleau Miami Beach has frequently been the backdrop for a number of famous films, including "Goldfinger" from the saga of James Bond and "The Bodyguard" with Whitney Houston and Kevin Costner in the lead roles. Status of the historical building has been acquired by the hotel in 2008. The hotel is managed by Fontainebleau Resorts Company, which, in addition to a hotel in Miami, also own Fontainebleau Resort Hotel is in Las Vegas.

Today we know that the Fontainebleau Miami Beach has suspended the repayment of debt. In this regard, the bankruptcy of the hotel is considered the most probable options for further development of the situation according to some analysts.

Date: 17/11/2009