New York Hotelier Andre Balazs Prepares to Sell South Beach, Florida's Raleigh Hotel; Intends to Focus on Expansion of Standard Chain

Andre Balazs expects to sell his Raleigh Hotel soon, parting with one of the most high-profile boutique properties in South Beach. The New York hotelier behind The Standard hotel chain said he has a buyer for the 104-room Raleigh and that both sides are all but agreed to a price. He expects the deal to become official within four weeks.