The operator of the Pharrell Williams-backed Goodtime Hotel plans to stop managing the South Beach property by the end of May, a move expected to eliminate more than 100 jobs and raise new questions about the hotel’s future.
Miami Beach’s hospitality sector is facing fresh uncertainty after the company managing one of its most high-profile, celebrity-backed hotels said it will cease operations at the site, potentially leaving its entire on-site workforce without jobs.
The Goodtime Hotel is a 266-room property backed by musician Pharrell Williams and Miami nightlife entrepreneur David Grutman in 2021. Now the hotel is facing a foreclosure lawsuit. Neither Grutman nor Pharrell is not named in the lawsuit and it is unclear with the duo a still financially tied to the hotel. A representative told The Miami Herald they have not been involved since mid- to late-2024.
The hotel is facing a $149.3 million foreclosure lawsuit and is set to shut down by May 31, 2026. The property is currently under lender control following missed payments to CIM Group…