1614-9 Various Miami Beach Copyright (c) 1986, The Miami Herald
DATE: Thursday, April 10, 1986 EDITION: FINAL
SECTION: NEIGHBORS MB PAGE: 10 LENGTH: 55 lines
SOURCE/CREDIT LINE: DEBBIE SONTAG Herald Staff Writer
MEMO: COVER STORY
YOUNG HOTELIERS: INHERITING THE BEACH
A man who knows more about Miami Beach hotels than almost anyone else can
tell in a flash whether a property is in young or old hands. The litmus of his
test: carpets and televisions.
"Examine the state of the building and you'll know who's in charge. In
the majority of cases, if there are stains in the carpet, the hotel owner is
older. If the carpet's fresh, if there's color TV and cable, it's young
people, " said Murray Gold, executive director of the Miami Beach Resort Hotel
Association.
The city is seeing more and more new carpets every year.
A new generation of hoteliers is inheriting the Beach. They're young.
Most are Beach natives. They're fixing up deteriorated hotels. And they're
taking a gamble on a future they hope will bring back the bustling city of
their youth.
"We, too, could allow the properties to run down," said Laine Unger,
managing director of the Royal Palm Hotel. "But we're young. These places are
extensions of our own ego. We want to feel proud."
At hotels such as the Royal Palm, the Adams-Tyler, the Netherland and the
Sagamore, children in their 30s are marching in to salvage or sustain the
family business. Many were ensconced in other careers and had no intention of
following in their parents' footsteps.
But, "what with inheritance taxes, selling these places would mean
forfeiting a lifetime of work. So you must perpetuate them, " said David
Pearlson, owner of the Adams-Tyler.
In other instances, young investors or contractors, such as Russell
Galbut at the Shelborne and Gerry Sanchez with many Ocean Drive hotels, are
taking a gamble.
"It's a gold mine here. My word of advice to anyone who listens is: Buy,"
Sanchez said.
The philosophy of these new, young owners is not as isolationist as that
of their seniors.
"You can do all we want to fix up your property. But if it looks as if a
neutron bomb has hit the area around you, it's not going to do you a whole lot
of good, " said Michael Milberg, general manager of the Royal Palm.
They know their own success depends on the redevelopment of Miami Beach.
So they join all the boards and committees they can to create new promotional
campaigns and new special events in the city.
"We have no choice but to hustle, really. We can't stay in business
without moving ahead," said Galbut.
Eric Jacobs of the Tarleton is skeptical that all this young energy can
make a difference, given the relatively few properties in young hands. Lloyd
Mandell, 38, of the Marseilles says only a sweeping change, such as the
legalization of gambling, will make a significant impact.
Most consider themselves pioneers.
"More fresh blood would be welcome, " said Milberg. "Let's get rid of the
dinosaurs."
TAG: 8601270784