The Tony Hotel South Beach Sells for 16.5 Million

The Tony Hotel South Beach has traded for $16.5 million in an off-market sale, marking a new ownership chapter for the long-running Collins Avenue boutique hotel. The 52-room property at 801 Collins Avenue is now under the control of an entity tied to French hospitality operators Philippe Le Guennec and Benjamin Debard, who plan a multimillion-dollar renovation while keeping the hotel in operation.

The transaction adds another South Beach asset to the pair’s Miami Beach portfolio after their purchase of the Kimpton Angler’s Hotel last year. It also ends decades of ownership by an entity connected to Jessica Goldman Srebnick and Janet Goldman, whose family acquired the property in the 1980s and played a central role in South Beach’s preservation and revival.

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Along with the hotel sale, the buyers have also leased a neighboring building on Ocean Drive that backs up to the property, creating the potential to add 21 additional guestrooms if that expansion moves forward as planned.

Key facts at a glance

French hospitality investors expand in Miami Beach

The buyers behind the acquisition are continuing to build a Miami Beach hospitality presence. Le Guennec and Debard bought the Kimpton Angler’s Hotel in Miami Beach for $43.5 million last year, a deal that signaled their interest in South Florida’s hotel market. Le Guennec also previously owned Hotel St. Augustine in Miami Beach before selling it.

In the Tony Hotel transaction, both sides were represented by Susan Gale of Gale International at ONE Sotheby’s International Realty, according to the report. The off-market structure suggests the property changed hands without the broad bidding process often seen in publicly marketed hotel deals.

For South Beach, the sale reflects continued institutional and private investor interest in well-located boutique hospitality assets, particularly those with historic character, established operations and room for repositioning. The Tony Hotel sits in a corridor that remains heavily influenced by tourism, walkability and access to the beach and nightlife district.

A long ownership history tied to the Goldman family

The seller was an entity tied to Jessica Goldman Srebnick and Janet Goldman, closing a chapter that began in 1986 when Goldman Properties acquired the hotel for $550,000. That purchase came during a period when Tony Goldman was investing heavily in the revitalization of South Beach, helping steer the neighborhood away from decline and toward its current identity as a global hospitality and cultural destination.

The hotel was renamed The Tony Hotel South Beach in 2022 in honor of the late Tony Goldman, founder of Goldman Properties and a prominent preservationist whose work later extended to Wynwood, where he helped launch the internationally known Wynwood Walls street art district. The Goldman family remains active in Wynwood through development, ownership and art-related projects.

The newer name was intended to reflect that legacy, while maintaining the hotel’s place within one of Miami Beach’s most recognizable historic districts.

What is planned for the Collins Avenue property

Under the new ownership, The Tony Hotel is slated for a significant renovation, though the full scope and timeline of the work have not been publicly disclosed. The buyers also plan to directly operate both the hotel and its restaurant, adding another layer of control over the property’s guest experience and day-to-day management.

The report says the existing Wish Café is expected to be replaced by a new dining concept, though no name or operator has been announced yet. Restaurant turnover is common in repositioned boutique hotels, especially when new owners want to align food-and-beverage programming with a refreshed brand identity.

The acquisition also includes the lease of a neighboring Ocean Drive building that backs up to the hotel. That space is expected to support an expansion of up to 21 guestrooms, which could increase the property’s lodging capacity while preserving its corner presence between Collins Avenue and Ocean Drive.

Historic Art Deco identity remains central to the property

The Tony Hotel occupies a double corner lot steps from Ocean Drive and the Atlantic Ocean, with an ocean-view rooftop pool and bar among its best-known features. Its origins go back more than a century, when the property first opened as the Tiffany Hotel.

The building was designed by architect L. Murray Dixon, one of the key figures behind Miami Beach’s Art Deco architectural identity. Dixon’s influence remains visible across the city, and his work is part of the broader historic fabric that has made South Beach one of the most closely watched hospitality markets in Florida.

The hotel was renovated in 1998, but retained its Art Deco character. That balance between preservation and reinvestment is often central to hotel transactions in Miami Beach, where long-established properties are frequently upgraded rather than replaced.

Why the deal matters for South Florida hospitality

The sale underscores how older boutique hotels in Miami Beach continue to attract capital from operators looking to acquire existing cash-flowing assets with upgrade potential. In neighborhoods like South Beach, where supply is constrained by zoning, historic designation and established urban form, repositioning an existing hotel can be faster and less risky than pursuing new development.

It also highlights the ongoing evolution of Collins Avenue and the surrounding South Beach hospitality market. Properties with strong locations, recognizable architecture and flexible operating potential remain highly sought after, especially when buyers believe they can improve performance through renovations, food-and-beverage changes or modest room expansion.

In this case, the future of The Tony Hotel South Beach appears to rest on a familiar South Florida formula: preserve the character, invest in the product and adapt the operation for the next phase of demand along Miami Beach’s most visited corridors.