Menin Hospitality announced that The Mondrian South Beach Hotel & Residences would join its portfolio of Miami hot spots as management of the property would transfer from Morgans Hotel Group to Menin Hospitality. The hotel will keep the Mondrian name under a licensing agreement but Menin will add a new ballroom and has already updated and facelifted the pool and restaurant.

This stylish 335 room hotel emulates old Hollywood glamour meets sophisticated modernism. The hotel got a $200 million renovation in 2008, charged by interior designer Marcel Wanders who aptly nicknamed his masterpiece “Sleeping Beauty’s Castle.” He mixed iconic black and white details like the laser cut floating staircase with gold, oversized fixtures to create a modern fantasy. Relax in the enchanting outdoor oasis of Mondrian that is enveloped by curtains of lush, green foliage.

The Mondrian also uniquely offers residency, providing owners the opportunity to have the property managed by its hotel management group or rent out on your own via Airbnb.com. The high-turnover flexibility offers great returns for investors and high cap-rates. The condos offer full hotel service along with various discounts throughout the Morgan’s Group properties, and are move-in ready. They offer studios, one-bedrooms, and two-bedrooms with a bay view option starting at $271,000.