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1,206-room Fontaine"6leaIi Ftn happened that
ton for large meetings.Peebles
said his hotel's and the Loews' were completely
edge will be their location in
the heart of South Beach, a outside our
two-block walk to the million-
square-foot Miami Beach Con- control.'
vention Center.
African Americans in the -DON PEEBLES,majority owner
tourism industry said the
hotel's history and luxury bill- until August 1999.The lenders,
ing will serve as a beacon. Union Planters and Ocean
"The bottom line is it's banks,extended their loans and
breaking the barriers of an rode out the turbulence.
Oexclusive club," said Andy "To open two years after
Ingraham, president of Hori- that, that's not unusual," Pee-
zons Marketing Group and bles said. "Any one of those
head of the National Associa- events could have led to this
tion of Black Hotel Owners project being stopped."
and Developers. "In addition Peebles'hotel troubles were
to being in a high-traffic area, mirrored in Broward County,
Off it's one of the first joint yen- where an ill-fated deal to build
tures between a major hotel a black-owned convention cen-
company and an African- ter hotel ended bitterly last July
American company.It's a new after three years of switching
il prices(excludes special purchases) frontier." partners, lenders and hotel
iceces STATUS OF JOBS chains. In November, Peebles
sued the county, demanding
According to Ingraham, $4.3 million in reimbursement
who tracks African American for architectural,financing and
employment in the hotel legal fees.The suit is pending.
industry, black workers hold Peebles is also a 30 percent
between 30 percent and 35 per- owner of the Diamond on the
iday' cent of hotel entry-level poli- Beach condominium project,
g every tions,but there are fewer than which the city.of Hollywood
60 black executives in the axed in 1999, citing its slow
ome appliances, all at nation's 30,000 full-service progress. Slain real-estate
hotels. mogul Gus Boulis was majority
what you've been looking Fewer still are owners.Just owner.
36 of the nation's 80,000 lim- A lawsuit ensued, a judge
ors, ranges and more! ited-and full-service hotels are ruled in favor of developers,
black-owned,Ingraham found, and lawyers for the city, Pee-
along with about 40 smaller bles and Boulis' estate are in
inns."For African Americans, damages mediation. "I would
owning in the hotel industry not go back there and do a pro-
has been an elusive dream,"he ject with Broward County,"
EEK'S SPECIALS said."The largest impediment Peebles said.
has been access to capital." Peebles is working to finish
vasher at the SearsTimes are changing, slowly. the $140 million Bath Club
Robert L.Johnson,founder and beachfront condominium corn-
ice and get a dryer at chief executive officer of Black plex in Miami Beach by 2004,
Entertainment Television, and has developed a$35 million
0% ff owns nine hotels within his office/retail complex with
RLJ Development group. For- Scott Robins Co.and LNR Jef-
O mer National Football League ferson Holdings Inc., a subsid-
player Donnell Tho'mpson's iary of Lennar,in South Beach,
gular retailp r•
ice. hospitality group owns six set to open later this year.
hotels and is developing a sev- Once bitten,twice shy,Pee-
enth. bles said it's unlikely he'll yen-
ay,January 13 through Saturday,January 19 But Peebles is the first Afri- ture back into hotel develop-
can American to build an $84 ment anytime soon. This
beat values.Me'candise shown is represontatonal ony. million hotel.And all eyes will d sspitehrpre oclamaons s back that made
be on him. 1
"The proof will be in the would build 10,000 rooms and
pudding whether he can 20 to 25 hotels in five years.
05.592.4441 deliver a quality product,"said "I wouldn't look at another
Gerry Fernandez,president of hotel unless it's in a top loca-
the:00 AM - 6:30 PM Providence, R.I.-based tion," he said. The only other
londay thru Friday MultiCultural Foodservice & hotel in his stable is a Marriott
aturday9:00 AM - 7:00 PM
Hospitality Alliance. in Washington."Hotels are tre-
"If he is successful, others mendously challenging to
unday 10:00 AM - 5:00,_PM will point and say, '1 can do finance. I'm more inclined to
that.'" look at condos or offices now."
I