Credit: lunamarina/Adobe Stock. Hospitality Sector Continues Recovery as Iconic South Beach Hotel Sells
"Optimum's multi-year process of expansion and renovation has revitalized the historic Celino South Beach site, transformed its global brand and helped to spearhead the relaunch of Miami's Ocean Drive," said Rodolfo Misitano, CEO at Optimum Asset Management in a written statement.
October 11, 2021 at 03:18 PM
3 minute read
Hospitality and Lodging
An iconic South Beach hotel on Ocean Drive has sold, marking an exciting comeback for the hospitality sector in South Florida.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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