Hotels Need That Extra Zing

H3 Hospitality partner Seth Gadinsky tells us that "value enhancement for hotels is a constant goal--they need to keep up with competition as fresh new hotel brands appear on the market monthly." It's critical to keep up with the industry's changing trends, to develop unique food and beverage concepts or retail offerings, and to bolster a hotel's assets. (Might we suggest having an in-hotel magic shop?) Recently Seth, who owns Gadinsky Real Estate, formed H3 along with colleague Justin Schultz and nightclub developers Cal Fortis and Ken Barilichà to specialize in adding that missing zing.

Seth adds that common-area assets like lobbies, restaurants, retail, and even storage areas and rooftops are great opportunities for hotels to generate revenue. "Hotels can use these spaces to create one-of-a-kind dining or entertainment, and their guests will talk about it," he says. These spaces also become separate revenue drivers for people not staying at the hotel and, when marketed properly, give the hotel another recognizable brand. Pictured: the B-Bar at The Betsy Hotel in Miami Beach, which Cal designed. (Perfect for those inclined to dance battle.)

Luxury retailers want space in Downtown and Brickell, Pointe Group Advisors prez William Holly tells us--office space, that is. The market's in the early stages of luxury retailers seeking office space in Downtown Miami, to be located near their Design District and Brickell CitiCentre storefront retail locations, he says. "We expect increased demand from quality retailers and fashion-oriented firms as the residential market strengthens." (If you work in that area, you'll need to step up your wardrobe, because that'll be stiff competition coming into town.) Recently, William repped New World Tower at 100 N Biscayne Blvd in leasing half a floor (about 5,000 SF) to Italian eyewear purveyor Luxottica; other retail tenants already in the building include Christian Dior, Guerlain, Bvlgari, and La Prairie. Scott Minchew & Co's Scott Minchew represented Luxottica, which will relocate from its existing office near the MIA.

Snapped at a recent housing lottery: Carrfour CEO Stephanie Berman-Eisenberg, along with Miami-Dade Commissioner Bruno Barreiro. One thing the lottery proved is that the demand for affordable housing in South Florida is nearly bottomless. When Carrfour prepared to put 44 affordable units in its Amistad development in Little Havana up for rent, the nonprofit got more than 1,500 applications within a month. When it opens in January, Amistad will consist of 89 affordable housing units, half of which will be for residents at or below 28% of AMI (considered homeless housing), with the other half for residents earning 60% of AMI.