Park Hotels & Resorts Reopens Royal Palm South Beach Miami After US$100 Million Renovation
Park Hotels & Resorts has reopened the Royal Palm South Beach Miami, a Tribute Portfolio Resort, following a US$100 million renovation. The property now features updated rooms, new dining options, and expanded meeting facilities, reflecting the company's asset enhancement strategy.
Miami Beach Resort Reopens
Park Hotels & Resorts announced the reopening of the Royal Palm South Beach Miami, a Tribute Portfolio Resort, on Wednesday, 22 July 2026, following a renovation exceeding US$100 million. This development was reported by Hotel Dive on 24 July 2026. Situated on Collins Avenue within Miami Beach's historic Art Deco district, the oceanfront property has undergone extensive modernisation across its guest facilities and public areas. The upgrades aim to revitalise the resort's offerings for visitors.
Renovation Details and Amenities
The refurbishment encompasses 404 guest rooms and suites, including the addition of 11 new rooms, spread across the resort's East and West towers and Lanai bungalow. Key improvements include a redesigned lobby and arrival area, four new food and beverage concepts, and enhanced pool and beachfront amenities. Additionally, the property now comprises approximately 20,000 square feet of modernised and expanded meetings and events space, according to Park Hotels & Resorts.
Company Strategy and Market Context
Thomas Baltimore Jr., Chairman and CEO of Park Hotels & Resorts, stated that the Royal Palm project aligns with the company's investment strategy, which has seen over US$430 million committed to ROI-driven projects since 2018. These projects consistently yield returns between 15% and 20% post-stabilisation and drive significant earnings growth. The company anticipates the Royal Palm's earnings before interest, taxes, depreciation, and amortisation (EBITDA) will nearly double upon stabilisation. This reopening occurs as Miami remains a robust lodging market, with other recent developments including the June reopening of the Delano Miami Beach hotel and the W South Beach converting to a Waldorf Astoria property, as noted by Hotel Dive.
Implications for Industry and Travellers
For the hospitality industry, Park Hotels & Resorts' continued investment in its core portfolio, exemplified by the Royal Palm renovation, demonstrates a clear strategy to unlock value and enhance asset quality in key urban markets. This approach, alongside the divestment of non-core assets, aims to strengthen long-term earnings growth. For travellers, the refurbishment provides a comprehensively updated accommodation option in Miami Beach, offering contemporary amenities and facilities within a prominent location for their stays.
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