Latest news with #BalHarbourShops
Business Journals
27-04-2025
- Business
- Business Journals
Mandarin Oriental Miami to close, lay off 430 staff ahead of renovation
The Mandarin Oriental, Miami on Brickell Key will permanently close May 31 after 24 years of operation. The closure is part of a $1 billion redevelopment plan to transform the site into a two-tower residential project. Affected by the closure, 430 employees will be laid off, with separations beginning on the closure date and continuing through Sept. 30. Employees will receive assistance, including unemployment information and available benefits. To support the transition, Mandarin Oriental has implemented several measures, including a retention plan, career continuity initiative and an alumni program offering future job priority. The hotel, which opened in 2000, will be replaced by The Residences at Mandarin Oriental, Miami, a luxury condominium-hotel complex. The project will feature 220 condos and 100,000 square feet of amenities. It's expected to open in 2030. Asian-fusion restaurant to replace Bal Harbour Shops eatery Le Zoo, the French Mediterranean brasserie by renowned restaurateur Stephen Starr at Bal Harbour Shops, will permanently close by the end of this month. The upscale eatery, which opened in November 2015, will end its nearly decadelong run at 9700 Collins Ave., No. 135. Known for its Parisian décor and seafood-forward menu, Le Zoo is part of Starr Restaurants, a Philadelphia-based hospitality group that also included the now-closed Continental Miami at the Aloft Hotel in South Beach. 'We have loved being a part of this wonderful community,' the group said, adding that, while Le Zoo is saying goodbye, a new Starr Restaurants concept is set to debut in late 2025 at a new location within Bal Harbour Shops. Le Zoo's departure coincides with the May 1 closure of Aba, a Mediterranean concept by Chicago-based Lettuce Entertain You Enterprises. The Business Journal has confirmed that China Grill, the once-popular South Beach Asian-fusion restaurant, will replace Le Zoo. A successor for Aba has yet to be announced. Both are in prime spaces within Bal Harbour Shops, a luxury shopping center with over 100 high-end boutiques. Founded in 1965 by Stanley Whitman, it continues to be family-operated with his grandson, Matthew Whitman Lazenby, serving as CEO. Cruise companies to launch new ships The South Florida cruise industry is showing signs of long-term growth and diversification, with major announcements from Carnival Corp., Norwegian Cruise Line Holdings Ltd. and newcomer Crescent Seas. Carnival Cruise Line announced April 7 that its fourth Excel-class ship, Carnival Festivale, will debut in 2027 from Port Canaveral. The fifth ship, Carnival Tropicale, will follow in 2028, with its homeport yet to be determined. Both ships will feature new entertainment zones and expanded accommodations for families, including 1,000 interconnecting rooms. Looking ahead, Carnival's Project Ace ships, set to launch in 2029, 2031 and 2033, will be the largest in the fleet, with nearly 8,000 guests each. Additionally, Carnival has ordered two midsize ships for AIDA Cruises, set for delivery in 2030 and 2032, marking a significant expansion for the German brand. Norwegian Cruise Line Holdings also made waves April 7, announcing it will charter four vessels across its three brands – Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises – beginning in 2026. The chartered vessels, including Norwegian Sky and Norwegian Sun, will go to Cordelia Cruises in India, while Seven Seas Navigator and Insignia will be chartered to Crescent Seas. Norwegian has 12 new ships on order through 2036, with seven for Norwegian Cruise Line, three for Oceania and two for Regent. Crescent Seas, a new residential cruise line backed by Miami Beach-based GFO Investments, will add Insignia to its fleet in late 2027. The 594-foot ship will undergo a $50 million renovation and feature 290 residences priced from $650,000 to $10 million. Sales for Insignia residences will begin in late summer 2025 at the Gale Miami Hotel & Residences. The global cruise industry is projected to reach $16.7 billion by 2031, driven by rising demand for luxury lifestyles, river cruises and global tourism. North America remains the top revenue contributor. Sign up here for the Business Journal's free morning and afternoon daily newsletters to receive the latest business news impacting South Florida. Download the free Business Journal app for breaking news alerts on your phone.
Business of Fashion
25-04-2025
- Business
- Business of Fashion
As Foreign Tourists Stay Away, US Retailers Dust Off Their Covid Playbooks
At Bal Harbour Shops, a high-end outdoor mall at the northern tip of Miami Beach, four out of every five visitors are from out of town, and often overseas. While there have been plenty of headlines about Canadians and Europeans cancelling their US travel plans in protest of various Trump administration policies, in South Florida, at least, those shoppers are still showing up. 'We're not aware of any of our stores today suffering impact relative to tariffs, and honestly it's not something that is at the forefront of the concerns our tenants are sharing with us,' said Matthew Whitman Lazenby, CEO of Whitman Family Development. 'If we don't bring it up, they don't bring it up.' Whether that will still be true this time next year — or even next month — is an open question. Global travel was in a slump even before President Donald Trump announced the highest tariffs in a century earlier this month. International tourist visits to the US were already down 12 percent year over year in March, according to the Commerce Department. Declines are particularly steep from Canada, the UK and Germany, where a combination of tariffs and Trump's harsh rhetoric towards longtime allies have turned many off potential visits. Goldman Sachs estimated the US economy could take a $90 billion hit if tariffs provoke a global consumer boycott of American goods and as a travel destination. The bulk of that blow will be felt by airlines and hospitality, according to Katie Thomas, lead of the Kearney Consumer Institute. 'But it will flow into retail,' she said. 'There is risk for any traditional mainstream American retailer.' In addition to shopping destinations like Bal Harbour Shops, internationally-known American brands such as Nike, Levi's, Ralph Lauren, Abercrombie & Fitch are particularly vulnerable to a backlash. If international customers stop coming to the US, one strategy is to reach them where they live. Brands with a global presence can reach foreign customers through collaborations and partnerships in their native markets, Thomas added. At home, retailers are looking back to the last time international travel ground to a halt for guidance. In 2020, international tourism didn't just decline — it vanished altogether. During this time, malls and retailers that once relied on these shoppers learned to court the local customer. For instance, Chinese tourists used to flock to South Coast Plaza in Costa Mesa, Calif. for its impressive roster of designer stores. When the country was in lockdown, the mall cancelled its retainer with a marketing agency in China and allocated that budget toward advertising campaigns in its native Southern California. 'We've been through it before and we've well positioned to handle a [downturn] because we learned some lessons through Covid,' said Debra Gunn Downing, the executive director of marketing at the mall. 'We have a lot of tricks up our sleeve in good times and bad times alike.' The Covid Playbook As soon as the lockdowns started to lift, US retailers saw firsthand how resilient American consumers can be when it comes to spending during times of uncertainty. Retailers were able to drive sales among their local customers by hosting events, offering loyalty perks and shifting online advertising toward a more regional audience. 'If we get to a point where it looks like we do have fewer international guests … then [our marketing team] is plugged into ways to make that [local] customer feel more special,' said Lazenby of Bal Harbour Shops. 'We'll go out and find that customer where they are.' Bal Harbour's events team regularly invites shoppers to fashion shows, book signings, dining pop-ups and other activities, such as an annual ice cream festival and flower show. Leaning into food and beverage can also bring more local consumers; as part of Bal Harbour Shops' expansion plans, its dining tenants will increase by 50 percent in the coming years, Lazenby said. Partnership between brands and their landlords will be another crucial component to driving business during tough times, as it was during and after the pandemic. South Coast Plaza, for instance, works with new tenants to help them put together marketing plans that cater to the coastal Californian clientele. Many retailers sought and received rent relief and other concessions in 2020. If tariffs lead to a drastic consumer pullback this year, some landlords say they're ready to weather the financial blow in tandem with their tenants. 'We view all of our retailers as partners so if they're going through difficulties, we'll work with them as we did through the pandemic,' said Philippe Lanier, principal at EastBanc, the real estate company that owns the majority of storefronts in Washington, DC's popular retail corridor, Georgetown. The Brick-and-Mortar Opportunity Trump's trade policies could send more American consumers to their local stores and shopping centres, according to Thomas of Kearney, as platforms like Shein and Temu that ship from China raise their prices. US retailers can appeal to shoppers' desire for value and instant gratification by running in-store promotions and communicating directly to them about the effect of tariffs. The de minimis ban, which would levy new fees on shipments into the US valued at under $800, also poses an opportunity for American fashion companies to explore new categories, such as athleisure or intimates, Thomas added. (Shein is the fastest growing seller of underwear in terms of global market share, for instance, according to Euromonitor.) 'This is a good time to innovate effectively, lean into hero products and run some deals on them,' she said. 'It's about striking the right balance between making people feel they can get something new and also a good deal.'
Miami Herald
07-04-2025
- Business
- Miami Herald
After 10 years, this sophisticated French restaurant is closing in Bal Harbour
Another restaurant at Bal Harbour Shops is closing for good. After 10 years at the luxury mall, Le Zoo from restaurateur Stephen Starr, will be serving shoppers, residents and tourists no more. With its lease up at the end of April, the brand has decided to close the French brasserie at 9700 Collins Ave. There's still time for a final bite there, though. Known for its sophisticated atmosphere and dishes like steak frites and classic cocktails, the restaurant, which opened in 2015, will be serving brunch, lunch and dinner through the end of the month. Starr Restaurants is also the parent company for the upscale Japanese restaurant Makoto in the Bal Harbour Shops, as well as the French bistro Pastis in Wynwood. New restaurant in 2025? The group announced the closing and said it plans to open a new Starr restaurant in Bal Harbour later this year. 'On behalf of the STARR Restaurants family, we want to thank our Le Zoo guests for their loyalty over the last ten years,' the statement said. 'We have loved being a part of this wonderful community. Although this may be a goodbye for now for Le Zoo, we are looking forward to introducing a new STARR Restaurants concept at an exciting new location in the Bal Harbour Shops in late 2025.' 'As our lease expires at the end of April, please join us over the next few weeks in celebrating Le Zoo and cherishing the amazing memories that were made here; à bientôt!' Le Zoo is the second restaurant in 2025 to close at the Bal Harbour Shops. In March, Aba Mediterranean restaurant announced it would be closing at the end of April. The original Aba restaurant in Chicago will remain open, as will the Aba in Austin, Texas.
