The 45-room hotel was damaged by Hurricane Irma in September 2017 and never reopened.
The Tides Hotel, built in 1936, is expected to reopen in November 2026 following a multimillion-dollar renovation by its new owner, Safe Harbor Capital Partners. The 45-room hotel was damaged by Hurricane Irma in September 2017 and never reopened. Its closure was followed by years of legal disputes over an unpaid mortgage, insurance money and foreclosure proceedings that culminated in a $95.6 million judgment against its former owners. The reopening would bring back a long-shuttered property at 1220 Ocean Drive, one of Miami Beach’s best-known streets. Hurricane Irma struck Florida in September 2017 and caused extensive damage to the building. As reported by Bisnow, the estimated hurricane damage stood at more than $9 million. A $35 million renovation completed in 1997 converted it from a 115-room property into 45 larger rooms, according to The Real Deal. Another $7 million upgrade was completed in 2008, covering guest rooms, public spaces, the pool and the front terrace. A lower-court ruling in 2022 was overturned on appeal in 2024, and the matter was reheard. Following a trial in November 2025, the court ruled in favour of Safe Harbor and entered a judgment totalling $95.6 million, including the outstanding debt, interest and other amounts. In March 2026, Safe Harbor acquired the hotel and associated properties at a foreclosure auction. As reported by Bisnow, the auction concluded after about a minute of bidding, with Safe Harbor acquiring the property for a $10,300 bid. The company obtained a mortgage of about $44 million from Maxim Credit Group, with part of the financing intended to support upgrades, according to The Real Deal.
As reported by American real estate media company The Real Deal, Safe Harbor has invested millions of dollars in renovating the property and is in discussions with hotel operators and chefs to develop its food and beverage programme.
The Chetrit Group continued to challenge the final judgment through an appeal, according to the reports. A historic Art Deco hotel on Miami Beach’s Ocean Drive is preparing to welcome guests again after remaining closed for nine years. The hotel closed and remained shut while the dispute over its financing and repairs unfolded. The scale of the damage made the renovation a significant undertaking. The case went through several stages. With control of the property secured, Safe Harbor has moved ahead with plans to renovate the hotel and prepare it for reopening. The financing covers the hotel and nearby properties, including sites on Collins Avenue and a parking garage.
The hotel had undergone major renovations before the storm.
The Tides was built in 1936 and became a prominent Art Deco property on Ocean Drive. The 13-storey hotel has 45 rooms, including larger suites and penthouses created during an earlier renovation. The Chetrit Group acquired the hotel in 2011, according to Bisnow. In 2014, the company took out a $45 million mortgage from Miami-based Ocean Bank, secured against the hotel and associated properties.
The planned reopening is scheduled for November 2026, according to reports. The hotel’s location on Ocean Drive gives it a place in Miami Beach’s Art Deco landscape, which attracts visitors for its architecture, restaurants and nightlife. The Tides has also drawn celebrity guests over the years. Its visitors have included Marilyn Monroe, Jennifer Lopez, Ben Affleck, Jamie Foxx and Paris Hilton. The hotel’s return will end a closure that began after Hurricane Irma, although the reopening date remains a plan rather than a confirmation that guests have already checked in.