Terra, Turnberry, and Hyatt Break Ground on Grand Hyatt Miami Beach
Miami-based developers Terra and Turnberry and executives from Hyatt were joined by leaders from the City of Miami Beach, Greater Miami Convention & Visitors Bureau, and Miami-Dade County to celebrate the groundbreaking of the Grand Hyatt Miami Beach - a transformative 800-room hotel connected to the Miami Beach Convention Center.
The groundbreaking ceremony marked a major milestone for a project that has been years in the making. Overwhelmingly approved by Miami Beach voters in 2018, and backed by $392 million in construction financing from TYKO Capital - the largest loan for a standalone hotel in Miami in over a decade - Grand Hyatt Miami Beach is set to elevate the City's hospitality infrastructure and economic vitality.
"The groundbreaking of Grand Hyatt Miami Beach marks a pivotal milestone in the transformation of the Convention Center District," said the project's developers, Terra CEO David Martin and Turnberry Chairman and CEO Jackie Soffer. "It fulfills a vision years in the making, an iconic, connected hotel that serves the meetings industry while strengthening the local economy and community. We're proud to bring this landmark project to life in partnership with the world-renowned Hyatt brand."
Located at 17th Street and Convention Center Drive, the 17-story hotel will feature 12 floors of guest rooms, including 52 suites with sweeping views of Miami Beach, and four floors of meeting and ballroom space designed to complement the Convention Center's programming. Designed by Bernardo Fort-Brescia of Arquitectonica, the hotel will offer resort-style amenities and serve as a key catalyst for Miami Beach's evolution into a premier destination for national and international meetings and events.
"The realization of Grand Hyatt Miami Beach, connected directly to our world-class convention center, marks a transformative moment for our destination," said Freddie Peterson, General Manager of the Miami Beach Convention Center, representing Oak View Group. "With a $640 million reimagined Miami Beach Convention Center and a $600 million hotel investment, we're elevating our complete offering to host premier global events and unlocking new opportunities for unlimited growth and impact."
"The addition of Grand Hyatt Miami Beach marks a pivotal moment for Miami Beach's cultural infrastructure," said Bridget Finn, Director of Art Basel Miami Beach. "We welcome this investment in world-class hospitality, which allows us to continue welcoming the international art world to Miami Beach - further elevating the experience of galleries, artists, patrons, museums, cultural partners, and visitors to our premier fair in the Americas and reinforcing Miami Beach's position as a leading global destination for art, culture, and innovation."
Upon planned completion in late 2027, the development will feature new public spaces, pedestrian promenades, bike-sharing stations, and improved connectivity to public transit advancing Miami Beach's broader goals for sustainability and resilience, while offering convenient access to the nearby Lincoln Road district.
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