New York-based real estate developer SHVO announced that the iconic Raleigh Hotel in Miami Beach will be managed by Rosewood Hotels & Resorts when it finally reopens in 2025. Noted architect and designer Peter Marino will lead the US$243 million development deal for the hotel closed since 2017. The project includes a new 17-story condo tower with 44 units facing the beach and a members-only beach club. The iconic Raleigh swimming pool is expected to remain intact.