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W Hotels Checks into Florida with $220M Property

FORT LAUDERDALE, FL-The $220 million, two-tower, 23-story project will be the first W Hotel in the state. The project, which will feature a 346-room hotel and 171 luxury residences, is set to open in December 2006.

By Melissa Bogdany | Updated on July 28, 2003

FORT LAUDERDALE, FL-W Hotels of White Plains, NY, is planning to open a $220 million, two-tower, 23-story hotel and residences project here. W Fort Lauderdale Hotel and Residences will be the state’s first W Hotel.

W’s parent company, publicly traded Starwood Hotels & Resorts Worldwide Inc., will manage the 346-room hotel and the 171 luxury residences for Capri Resorts LLC. Capri Resorts is an affiliate of CL Financial Ltd., a multibillion-dollar entity based in the Caribbean.

Colonial Development Group LLC, also an affiliate of CL Financial Ltd., will be the project’s developer. Colonial Development Group LLC’s principals are Lawrence A. Duprey, Joseph R. Cook, Daniel E. Adache and Jerrold R. Krystoff.

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