Miami Beach Hotel Owner Can Remove Marriott, Court Rules
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Marriott International Inc., the largest publicly traded U.S. hotel chain, can be removed as manager of the Eden Roc Renaissance Hotel in Miami Beach, Florida, a New York court ruled.
The owners of the 57-year-old Eden Roc sued Bethesda, Maryland-based Marriott in April, saying the company mismanaged the property after they invested more than $300 million in the hotel, including a $240 million renovation. Marriott sued the owners in the same court six months later, accusing them of attempting a hostile takeover.