Condo Hotel King; Falor Bowing Out
By Anthony Longo 7 05 2007
Robert Falor, whose acquisition of the Royal Palm hotel three years ago cemented his status as the leader in South Florida’s condo-hotel conversion trend, has surrendered management of the property.
Falor said his departure from the South Beach hotel signals the beginning of the end of his stormy tenure in South Florida real estate. His other South Beach project, the Breakwater and Edison hotels, are in bankruptcy. Falor said both hotels, along with a South Florida property where he owns a small stake, Islamorada’s Cheeca Lodge, are for sale.
”For me, it made sense to move on,” the Chicago developer said.
Falor’s departure from the Royal Palm was first announced in a court hearing Friday for a lawsuit developer R. Donahue Peebles filed against Royal Palm owners claiming gross mismanagement by Falor. Majority owner Guy Mitchell said Falor was removed as manager in March. Continued…
Source: Miami Herald
In there path of debunking the rich and greedy in south florida and chicago, It should also be brought out, the hundreds of working individulas they have stepped over and on, with no care or compassion for thelive and dreams they have destroyed. Robert and his brothe Chris would stop and nothing to gain what they wanted