Hilton and Reuben Brothers have signed a management agreement to convert the W South Beach into Waldorf Astoria Miami Beach, marking the luxury brand’s first hotel in the Miami Beach market. The 20-story oceanfront property at 2201 Collins Avenue will close for renovations on or around August 20, 2026, and is expected to reopen in winter 2027 under Hilton management, ending the property’s nearly two-decade affiliation with Marriott.
Key Takeaways
- Hilton and Reuben Brothers announced a management agreement on July 7 to transform the W South Beach into Waldorf Astoria Miami Beach, with a planned winter 2027 reopening.
- Reuben Brothers purchased the property in October 2024 for $425 million from RFR Realty and Tricap, according to Commercial Observer, marking South Florida’s largest hospitality transaction that year.
- The renovation will produce 348 redesigned ocean-view suites with balconies, a new lobby with Waldorf Astoria’s signature Peacock Alley, upgraded dining, an enhanced spa, and improvements to the 48,000-square-foot pool deck.
- The conversion moves a luxury property from Marriott’s portfolio to Hilton’s, giving Hilton its first high-end beachfront hotel in a market where Marriott operates multiple luxury brands.
- A separate Waldorf Astoria Miami, a supertall tower in downtown Miami, is expected to open in 2028.
What Is Changing at 2201 Collins Avenue?
The property will undergo what Hilton and Reuben Brothers describe as a renovation and repositioning, with Avenue Interior Design leading the project. The scope covers 348 suites — all with ocean views and private balconies — a redesigned lobby anchored by Peacock Alley, Waldorf Astoria’s signature lounge and all-day gathering space, a new food and beverage program, a curated spa and wellness experience, an enhanced fitness center, improvements to the 48,000-square-foot pool deck including private cabanas, and revitalized event spaces.
The property previously underwent a roughly $30 million renovation in 2020 under Marriott’s W brand, so the physical structure is not starting from a deteriorated baseline. The transformation is aesthetic and operational rather than structural — repositioning the hotel from W’s lifestyle design language to Waldorf Astoria’s more traditional luxury identity. The W South Beach filed a WARN Act notice in June indicating that nearly 340 employees would be terminated when the hotel closes for the conversion, though Reuben Brothers stated the renovation would create additional employment opportunities for returning and new workers.
Who Owns the Property and How Much Did It Cost?
Reuben Brothers, the London-based investment firm led by billionaires David and Simon Reuben, purchased the W South Beach in October 2024 for $425 million from RFR Realty and Tricap, Commercial Observer reported. The deal included 175 hotel rooms and 173 condo-hotel units managed by the resort, working out to more than $1,012 per room on the hotel component. Eastdil Secured’s Jeff Davis represented the sellers, with Newmark’s Doug Harmon advising.
The acquisition expanded Reuben Brothers’ South Florida hospitality portfolio, which already included a 25% stake in the 685-key JW Marriott Miami Turnberry Resort & Spa in Aventura, purchased in 2020, and the 53-room Chesterfield Hotel in Palm Beach, acquired in 2022 for $42 million and recently reopened as The Vineta Hotel by the Oetker Collection. The W South Beach’s prior owners, Tricap and RFR Realty, had controlled the property since Tricap purchased it as a Holiday Inn in 2004 for approximately $75 million and converted it into the W South Beach in 2009.
Why Does This Matter for Hilton’s Luxury Position in Miami?
The conversion addresses a conspicuous gap in Hilton’s portfolio. Marriott currently operates multiple luxury brands across the Miami Beach market, including St. Regis, EDITION, and several Ritz-Carlton properties. Hilton, by contrast, had no true luxury beachfront hotel in Miami Beach before this agreement. The Waldorf Astoria brand, which now spans 40 properties globally, gives Hilton a flagship entry point into a market where luxury room rates and occupancy levels run among the highest in the country.
Hilton currently manages more than 520 properties across Florida. The Waldorf Astoria Miami Beach will be distinct from Waldorf Astoria Miami, a supertall residential and hotel tower under construction in downtown Miami that is expected to open in 2028. The two properties serve different segments — beachfront resort versus urban high-rise — and Hilton positions them as complementary rather than competing.
Where Does This Fit in the Collins Avenue Renovation Wave?
The Waldorf Astoria conversion joins an unusually concentrated cycle of luxury hotel renovations along Collins Avenue. The Delano Miami Beach recently reopened after a six-year upgrade costing more than $100 million. The Shelborne South Beach, rebranded as Shelborne by Proper, reopened in May 2025 following a $100 million renovation, the Real Deal reported. The SLS Miami Beach, Royal Palm South Beach, The Raleigh, and the Shore Club are among additional Collins Avenue properties currently shuttered for multimillion-dollar overhauls.
The pattern reflects a broader repositioning of Miami Beach’s luxury corridor, where aging properties built in the 2000s or earlier are being upgraded to compete for a traveler segment that has shifted toward newer destination markets. For Reuben Brothers, the $425 million purchase price plus renovation costs represent a bet that the Collins Avenue address and Waldorf Astoria brand positioning will command rate premiums that justify the combined outlay in a market where competition is intensifying rather than thinning.
Hilton’s conversion of the W South Beach into Waldorf Astoria Miami Beach fills a gap in the company’s luxury portfolio along one of South Florida’s most competitive hotel corridors, joining a wave of Collins Avenue renovations that is reshaping the market heading into 2027.
FAQs
When will the W South Beach close? The hotel is expected to close for renovations on or around August 20, 2026. Reservations on Marriott’s website are no longer available after August 17, 2026.
When will Waldorf Astoria Miami Beach open? Hilton and Reuben Brothers have announced a planned reopening in winter 2027.
How much did Reuben Brothers pay for the property? Reuben Brothers acquired the W South Beach in October 2024 for $425 million from RFR Realty and Tricap, according to Commercial Observer.
What will the renovated hotel include? The property will feature 348 redesigned suites with ocean views and balconies, a new lobby with Peacock Alley, new dining concepts, an upgraded spa, an enhanced 48,000-square-foot pool deck with cabanas, and revitalized event spaces.
Is this the same as Waldorf Astoria Miami? No. Waldorf Astoria Miami is a separate supertall tower under construction in downtown Miami, expected to open in 2028. Waldorf Astoria Miami Beach is a beachfront resort on Collins Avenue.
What will happen to employees? The W South Beach filed a WARN Act notice in June indicating nearly 340 employees would be terminated. Reuben Brothers stated the renovation would create additional employment opportunities.
Who is designing the renovation? Avenue Interior Design is leading the redesign of the property.
