Conrad Fort Lauderdale
| Company type | Private |
|---|---|
| Industry | Hospitality, Real estate |
| Founded | July 2005 |
| Headquarters | Fort Lauderdale , United States |
| Products | Condo-hotel units, Condominium residences |
| Website | www |
The Conrad Fort Lauderdale is an upscale condominium-hotel resort situated on the beachfront at 551 North Fort Lauderdale Beach Boulevard, Fort Lauderdale, Florida. This property comprises 181 condo-hotel units alongside 109 condominium residences housed in a separate structure known as The Ocean Resort Residences. The development commenced in July 2005 under the name Trump International Hotel & Tower Fort Lauderdale, spearheaded by New York developer Roy Stillman and the Bayrock Group. Prior to his presidency, Donald Trump licensed his name to this endeavor. Although initially scheduled for a 2007 opening, the project encountered several postponements.
In 2009, Trump retracted his association following the developer’s failure to meet the licensing agreement, amidst legal actions from condo purchasers accusing the project of contract breaches and deceptive marketing. Foreclosure proceedings were initiated in March 2010, culminating in the property's auction sale in March 2012. After multiple ownership transitions and a $70 million refurbishment, the resort officially opened in October 2017.
Initial development and construction
The location was previously home to the Merrimac and Gold Coast hotels dating back to the 1950s. Approval for a condo hotel on this site was granted in 2001. By December 2003, Donald Trump had shown interest in the proposed Gold Coast Merrimac Resort—a 24-story complex approved for 240 hotel rooms and 80 timeshare units. By February 2005, Trump had become an equity partner and licensed his brand to the renamed Trump International Hotel & Tower Fort Lauderdale, a project developed by Stillman Bayrock Merrimac LLC with Roy Stillman and Bayrock Group as principal partners.
The design, crafted by Michael Graves and Associates alongside Oscar Garcia Architects, was modified to reduce scale—eliminating 22 units and 215 parking spaces from original plans—and featured a 24-story tower inspired by a 1925 luxury ocean liner. The two-acre property was planned to contain a total of 298 units.
On February 15, 2005, the Fort Lauderdale city commission unanimously endorsed the project, recognizing it as pivotal for elevating the beach corridor into a high-end tourist hub. Demolition of existing structures was underway. Construction began in July 2005 with Stiles Construction Company appointed as general contractor; initial budget estimates were around $200 million. The opening date shifted to 2008 due to construction setbacks, including a fatal scaffolding accident in June 2006 and a cement mixer incident in January 2007. Corus Bankshares provided a $139 million construction loan by December 2006.
Financial challenges and litigation
By October 2007, Trump remained optimistic about the Trump International development despite suspending another nearby condo-hotel project due to unfavorable real estate market conditions. The resort was expected to open in 2009 with deposits secured on approximately 70% of units. However, many prospective buyers withdrew or initiated lawsuits amid market declines. Eventually, Bayrock Group divested its stake to an Icelandic investment firm.
By May 2009, purchasers were urged to finalize transactions or risk leaving the development incomplete; local zoning laws prohibited occupancy of individual units before full hotel completion. Approximately thirty buyers filed legal claims seeking refunds of their initial 20% deposits, alleging misleading promotions overstating Trump's involvement. Contracts identified the property as SB Fort Lauderdale Hotel & Condominium and included provisions allowing Trump to terminate the licensing agreement. Marketing materials described it as a "signature Trump development," which contributed to buyer confusion. Additional lawsuits cited breach of contract over failure to complete by December 2008. Following these defaults, Trump withdrew permission for use of his name.
By August 2009, Corus Bankshares faced financial difficulties; although fully furnished, the building remained vacant and was backed by $182 million in construction financing. The project defaulted on its $139 million loan prior to opening. Corus Construction Venture (later ST Residential), affiliated with Starwood Capital Group, assumed mortgage control and filed foreclosure against SB Associated LLC in March 2010, naming over eighty buyers who had neither received units nor refunds. Foreclosure proceedings were delayed due to multiple stakeholders and court congestion.
In November 2010, Trump confirmed termination of his licensing agreement and denied participation in foreclosure actions involving more than one hundred buyers. Ultimately, seventy-five purchasers initiated lawsuits after investing approximately $8 million in deposits. Some investors expressed concern upon discovering Felix Sater’s involvement—a figure with a criminal history related to financial offenses.
A foreclosure auction took place in March 2012; Corus Construction Venture acquired the property after no competing bids met the $165.6 million reserve amid ongoing litigation. In March 2013, ST Residential listed the entire development for sale as a single asset, describing it as well-maintained and nearly ready for occupancy; market analysts anticipated a minimum price near $125 million. Previous buyers had filed nearly $4 million worth of liens against the property.
The first trial involving buyer lawsuits occurred in March 2014; plaintiffs claimed they invested under the impression that Trump was directly developing the project—a claim he denied during testimony. The jury ruled favorably for Trump, who then sought substantial attorney fees; nevertheless, similar suits involving eighty-one plaintiffs remained unresolved. Attorneys alleged judicial partiality benefiting Trump but were denied requests for retrials. Numerous other lawsuits concluded through confidential settlements.
In June 2015, Trump initiated legal action against developer Stillman for breach of contract, asserting losses amounting to millions due to project failure and legal expenses while alleging reputational harm caused by unauthorized settlements using escrow funds. During Trump's presidential campaign in 2016, Republican advertisements referenced Felix Sater’s involvement to question Trump's credibility. In April of that year, a Florida appellate court ruled that Trump had not misrepresented his role following appeals from initial lawsuit plaintiffs.
Conrad Fort Lauderdale
In December 2013, CFLB Partnership LLC, connected to Orchestra Hotels & Resorts and the proprietor of the nearby Hilton Fort Lauderdale Beach Resort, acquired the incomplete Trump development for $115 million. Their plan was to relaunch it as the Conrad Fort Lauderdale Beach Residences. Initial communications to buyers indicated unit occupancy could begin in 2014, with full operational status anticipated the following year. By January 2014, Hilton Worldwide committed to managing the property under its Conrad Hotels brand and initiated a $34 million upgrade.
By October 2014, the opening was scheduled for summer 2015 under the name Conrad Fort Lauderdale Resort and Residences. Orchestra Hotels intended a $40 million refurbishment, which was later increased to $70 million to enhance public spaces and remain competitive with new developments. The building, containing 290 units, was split between 181 condo-hotel units and 109 condominiums marketed as The Ocean Resort Residences for permanent residents. Improvements included a redesigned lobby, lounge area, and a gourmet market. In March 2015, construction of the Jewel Box—a five-story glass structure connecting the residences to the hotel—was completed. However, delays pushed the expected completion date from fall 2015 to early 2016.
Although a certificate of occupancy was issued in June 2016, the property did not open due to a $1.4 million construction lien filed by general contractor Moss & Associates coupled with financing difficulties. At that time, about 35% of units had been sold, but closings were halted pending resolution of the lien and refinancing discussions.
In January 2017, the Quebec-based Heafey Group acquired the remaining 232 unsold units for $91 million. While an opening was initially planned for July 2017, it was delayed. The resort’s restaurant Terra Mare launched in September 2017. Following a soft opening on September 29 impacted by Hurricane Irma, the hotel officially opened on October 10, 2017 under Hilton’s luxury Conrad brand. The Atlas bar and lounge debuted in November, with a formal grand opening ceremony held on December 19, 2017. The property comprises 290 units: 108 upscale condominiums and 181 condo-hotel units operated by Conrad.
In October 2020, Takato—a Japanese-Korean fusion restaurant led by Chef Taek "Taka" Lee—opened within Conrad’s main dining area, offering views of Fort Lauderdale Beach.