PHOENIX—Best Western International announced the first two deals signed in North America to develop its new urban boutique concept Vīb. In addition, the brand has announced the first international Vīb hotel will be developed in Seoul, South Korea.
“Since the launch of Vīb, we have had tremendous interest from hotel developers, especially entrepreneurs who have not developed Best Western hotels previously,” said Mike Muir, vice president Best Western North American development. “Vīb is the only boutique concept designed for the upper midscale hotel segment and fills a niche that developers and customers want. What is so exciting for Best Western is that Vīb is no longer a concept but is now a reality. We are thrilled that our first two projects in North America are in such high visibility markets like Miami and Chicago.”
Rebuild Miami-Edgewater is developing Vīb as the cornerstone of a larger residential and retail project on 7.3 acres in Miami’s Arts and Entertainment District. Located three blocks from the water, near the Art Center and the new EXPO Center being constructed, Vīb is being developed as a 200-room, 10-story hotel expected to break ground in November 2015.
“The site where we are developing Vīb is an eclectic neighborhood full of art studios, hip restaurants, and independent shops and is home to Miami’s famous festival, Art Basel. Our family has been involved in developing and investing in Miami for many years, and we view this project as an example of our continued commitment to investing in our communities. This project will add to the vibrancy of the Arts and Entertainment District and be a boost to the local economy,” said Richard Meruelo of Rebuild Miami-Edgewater.
In Chicago, Vīb is being developed on Cicero Avenue across from the upscale, high traffic Midway Hotel Complex in the Chicago/Midway International Airport market, by entrepreneurs Balkrishna Patel and his sons Parth and Amit. With the unique size and shape of the site, this will be a very visible gateway three-story, 74-room hotel. The area has seen a resurgence in commercial growth, with the city and local government spearheading the economic redevelopment of the area.
“We have been looking for a hotel development opportunity in this area for many years,” said Amit Patel. “Once we had the site we wanted, we looked at the various hotel products that we could develop and felt that Vīb offered us the type of contemporary, stylish hotel that was unique to the market and would allow us to effectively compete. We are looking forward to breaking ground mid-to-late summer.”
With several other projects under consideration, the development team continues to focus on opportunities in major markets including: New York, Los Angeles, Austin, Atlanta, Dallas, Atlanta, New Orleans, Philadelphia, Phoenix, Toronto, Vancouver, and Montreal.