Miami Beach commissioners endorse Royal Palm hotel sale

12/9/2004 | Miami Herald (free registration), The

Miami Beach commissioners have given their approval for the sale of the troubled Royal Palm hotel and will allow the conversion of about 160 of the hotel's rooms to condo-hotel units. The approval of the sale to a white-owned company will end Miami's involvement in a resort that was developed under a minority set-aside contract, and will clear an obstacle for owner R. Donahue Peebles to close a $128 million sale for the 417-room resort.

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