Fashion icon Tommy Hilfiger has finalized his deal to acquire the Raleigh Hotel in Miami Beach, and founded The Raleigh Group.
Tommy Hilfiger has acquired The Raleigh Hotel in Miami Beach, a luxury hotel built in the 1940's. Formerly owned by David Edelstein and Sam Nazarian, the property will continue to be managed by SBE Entertainment Group. "We will invest significant resources to preserve the property's unique style while embracing the local flavors and culture that help define it," said David Pisor, recently appointed CEO at Raleigh Group, the new hotel group recently founded by Tommy Hilfiger. Through this new brand and the Miami Beach Hotel purchase, the fashion icon shows he has ambitions in the hotel industry.
Mongeau Capital, the private equity arm of the Mongeau family, has joined Mr. Hilfiger to support the development of The Raleigh Group into a premier luxury lifestyle brand in the hospitality industry. The company has helped develop and implement the strategies of numerous groups now recognized as global leaders in the luxury hospitality industry.
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