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MIAMI BEACH, FL-The Sovereign Hotel, located at 4385 Collins Ave., has been acquired by Soho House Ltd. under a $39 million purchase of owner New York-based Ryder Properties, according to a story by Eric Kalis at the Daily Business Review, an Incisive Media publication. Soho House, which has created private member clubs and hotels in Britain and one in New York City, was originally leasing the space, which is in the process of undergoing a renovation and the addition of a 15-story tower.

The members-only boutique hotel is set to open in late 2009 or early 2010 and will feature 47 rooms, a rooftop bar, pool, cabanas, spa and a movie-screening room. “The capacity of the beach is increasing, which is a good thing for this project,” hotel consultant Guy Trusty, president of Lodging and Hospitality Realty, told the Daily Business Review. “And they might be opening at the right time, as 2010 will probably be past the current period of [economic] uncertainty.”

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