Fontainebleau Resorts
Encyclopedia
Fontainebleau Resorts, LLC, is a resort
-hotel
company started by South Florida real estate developers Turnberry Associates
and the Plant family in 2005 after their purchase of the famous Fontainebleau Hotel
in Miami Beach, Florida
. The two families have a 50% stake in the company each. The company is based in Las Vegas
, Nevada
.
The company is headed by Turnberry Principal, Jeffrey Soffer, PLANTworldwide owner Brett Plant,and former Mandalay Resort Group
President, Glenn Schaeffer. The company currently has several ongoing hotel and condominium
development projects in Miami Beach and Las Vegas
, with several more on the way, and Schaeffer has suggested that Fontainebleau will go public in order to raise money for their multi-billion dollar development plans.
On April 17, 2007, Publishing and Broadcasting Limited
(now Crown Limited
) announced that it had entered into an agreement to acquire 19.6% of Fontainebleau Resorts for US$250 million.
Schaeffer is no longer with the company.
Resort
A resort is a place used for relaxation or recreation, attracting visitors for holidays or vacations. Resorts are places, towns or sometimes commercial establishment operated by a single company....
-hotel
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
company started by South Florida real estate developers Turnberry Associates
Turnberry Associates
Turnberry Associates is an American real estate developer in residential, retail, hospitality and office. The company has developed more than $7 billion in commercial and residential property, including approximately of retail space, more than 7,000 condominium and condo-hotel residences, of...
and the Plant family in 2005 after their purchase of the famous Fontainebleau Hotel
Fontainebleau Hotel
The Fontainebleau Miami Beach or the Fontainebleau Hotel is one of the most historically and architecturally significant hotels on Miami Beach. Opened in 1954 and designed by Morris Lapidus, it was considered the most luxurious hotel on Miami Beach, and is thought to be the most significant...
in Miami Beach, Florida
Miami Beach, Florida
Miami Beach is a coastal resort city in Miami-Dade County, Florida, United States, incorporated on March 26, 1915. The municipality is located on a barrier island between the Atlantic Ocean and Biscayne Bay, the latter which separates the Beach from Miami city proper...
. The two families have a 50% stake in the company each. The company is based in Las Vegas
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
, Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
.
The company is headed by Turnberry Principal, Jeffrey Soffer, PLANTworldwide owner Brett Plant,and former Mandalay Resort Group
Mandalay Resort Group
Mandalay Resort Group was a hotel-casino operator based in Las Vegas, Nevada. Its major properties included Mandalay Bay, Luxor, Excalibur and Circus Circus, as well as half of the Monte Carlo. In terms of market capitalization, it was one of the largest casino operators in the world. It was...
President, Glenn Schaeffer. The company currently has several ongoing hotel and condominium
Condominium
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...
development projects in Miami Beach and Las Vegas
Las Vegas metropolitan area
The Las Vegas Valley is the heart of the Las Vegas-Paradise, NV MSA also known as the Las Vegas–Paradise–Henderson MSA which includes all of Clark County, Nevada, and is a metropolitan area in the southern part of the U.S. state of Nevada. The Valley is defined by the Las Vegas Valley landform, a ...
, with several more on the way, and Schaeffer has suggested that Fontainebleau will go public in order to raise money for their multi-billion dollar development plans.
On April 17, 2007, Publishing and Broadcasting Limited
Publishing and Broadcasting Limited
Publishing and Broadcasting Limited was one of Australia's largest companies, with interests primarily in media and gaming. The company demerged in late 2007, spinning out its gaming interests into Crown Limited...
(now Crown Limited
Crown Limited
Crown Limited is one of Australia's largest gaming and entertainment groups. At June 2010, Crown Limited had a market capitalisation of just over A$6 billion and accounted for 27.53% of the S&P/ASX 200 Hotels Restaurants & Leisure Industry Group....
) announced that it had entered into an agreement to acquire 19.6% of Fontainebleau Resorts for US$250 million.
Schaeffer is no longer with the company.
Subsidiary companies
- Fontainebleau Las Vegas LLC
- Fontainebleau Las Vegas Holdings LLC
- Fontainebleau Las Vegas Capital Corp.
External links
- Fontainebleau Resorts Official site for Fontainebleau Resorts