Miami luxury hotels muddle through financial woes

09/14/2009 | American City Business Journals

The number of luxury hotels in South Florida facing legal and financial problems amid the recession continues to grow. The trendy Savoy Hotel, an Art Deco boutique property on Miami's Ocean Drive, joins the Fontainebleau Miami Beach and Trump International Hotel & Tower in facing financial woes, with the FDIC closing its lender BankFirst just as it was in extension negotiations with the bank.

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