GREENWICH, Conn.–Eldridge, a holding company with a unique network of businesses across finance, technology, real estate, and entertainment, has today completed the acquisition of the Hudson Hotel and Delano South Beach, located in New York City and Miami, respectively. Cain International, Eldridge’s real estate investment firm, has been appointed to lead a strategic repositioning of both assets. sbe will retain the Hudson and Delano brand names.
The Hudson Hotel is an 878-key hotel located at 356 West 58th Street between 8th and 9th Avenues in Midtown Manhattan. Built in 1929, the hotel enjoys a prime central position, moments away from Central Park, with easy access to world-renowned cultural and entertainment establishments.
Long regarded as one of Miami’s top luxury hotels, Delano South Beach is a 191-key hotel located on the famed Collins Avenue. The historic property was built in 1947 and sits in the Art Deco Historic District. The hotel further benefits from direct beach frontage and several food and beverage operations.
Delano South Beach closed in March 2020 in response to the COVID-19 pandemic and the property will remain closed in anticipation of a significant refurbishment. The Hudson Hotel will also be shutting down all remaining hotel operations in December 2020 in anticipation of a planned upgrade and repositioning. The hotel has not undergone a major renovation in nearly 20 years.
This strategic repositioning appointment will add to Cain International’s growing footprint in the luxury hospitality space, a sector which the firm has exposure to across several gateway cities in the US and Europe. Its US hospitality investments include the Waldorf Astoria Beverly Hills, the Beverly Hilton Hotel, the Raffles Hotel and Residences Boston Back Bay, and the financing of the Aman Hotel & Residences in New York City’s historic Crown Building. The firm has also partnered with leading hospitality brands: Oberoi, Soho House, Six Senses and Rosewood Hotels & Resorts for projects in the UK, France, and Italy.
