Payton & Associates, LLC
Commercial Litigation Attorneys
Miami, Florida
786-574-4943

Hyatt maintenance dispute settled for $4 million


The City of Miami has agreed to pay Hyatt Equities close to $4 million in a settlement resolving a maintenance disagreement. The business dispute between the city and Hyatt has been going on for years and was stopping the two parties from moving forward with their plans to redevelop the area.

The dispute involved Hyatt's Miami River hotel and the costly maintenance that was done on the aging property. Hyatt was unhappy with the fact that police and firefighters have been forced to work with malfunctioning equipment. However, Miami commissioners have made amends by agreeing to hire a company to redo Miami's emergency radio system. Additionally, in the reconciliation agreement, Miami agrees to pay $2.2 million for safety-related maintenance work on Hyatt's property and $1.7 million in rent to cover value depreciation and other costs.

Now that the parties have settled their differences, Miami commissioners plan to negotiate with the hotel next door, River Park Hotel & Suites, and try to expand their redevelopment efforts. Miami will also pay Harris Corporation close to $12 million to develop a new two-way radio network for police and firefighters to use.

Business disputes involving commercial real estate can be complicated and involve millions of dollars. When businesses are stubborn and focus solely on their own needs, coming to a resolution is unlikely. As the parties battle back and forth, money and time is being wasted on both sides. Companies need to work amicably to find the best solution for all parties involved. Once a dispute is resolved, the parties can move forward with other dealings and return their attention to running their successful businesses.

Source: Miami Herald, "Miami settles $4 million dispute with Hyatt," David Smiley, May 25, 2017

No Comments

Leave a comment
Comment Information
Super lawyers | Harry A. Payton The Florida Board Certified | Business Litigation The Florida Board Certified | Civil Trail AV | Preeminent | Peer  Rated for Highest Level of Professional Excellence | 2018 Best Lawyers | 2018 Global Member Firm INBLF
Email Us For A Response

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

2 S. Biscayne Blvd., Suite 2300
Miami, FL 33131

Phone: 786-574-4943
Map & Directions