Iconic Mandarin Oriental owner files for Chapter 11 bankruptcy

6 days ago 3

Veronika Bondarenko

Fri, December 26, 2025 astatine 11:05 AM CST 3 min read

A fig of resorts, hotels and mixed hotel-apartment complexes person each had to record for bankruptcy successful the past months of 2025.

The institution down hotels specified arsenic The Tuscany and Hotel 27 successful New York City suddenly shut down operations in September 2025 portion the proprietor of Oheka Castle edifice successful Long Island is presently successful Chapter 11 proceedings with debts of implicit $60 million.

Vacation rental institution Sonder announced a Chapter 7 bankruptcy filing successful November aft Marriott pulled backmost on a cardinal licensing woody portion the proprietor of the Fairmont Breakers edifice successful California's Long Beach besides filed for bankruptcy successful the aforesaid period to stall creditors attempting to prehend assets amid implicit $50 cardinal successful debt.

Founded successful 1963 retired of Hong Kong, the Asian hospitality radical Mandarin Oriental is often associated with utmost luxury and is presently made up of 45 hotels and 12 residences astir the world. Plans to conception a caller 164-room Mandarin Oriental successful Boca Raton person archetypal been announced successful 2015 by Florida developer Via Mizner Owner II.

Construction began successful 2019 but since then, the task has deed aggregate delays and lawsuits implicit those who enactment down deposits successful the 95 backstage homes and condos that were besides included successful the improvement plans.

Related: Luxury homebuilder files for Chapter 11 bankruptcy

The unfinished towers connected Federal Highway and Camino Real person been a show successful the city's downtown for the past six years. The improvement institution offered small commentary connected what caused the yearslong delays but section reporters dug up a failed concern and scared-off lenders.

With the task continuing to stall, Via Mizner Owner II and its debtor affiliate person present filed for Chapter 11 bankruptcy successful the U.S. Bankruptcy Court for the Southern District of Florida connected Dec. 23. The filing shows that the improvement radical owed astir $130.2 cardinal to TIG Romspen US Master Mortgage LP and $80 Via Mizner Funding, L.P. portion possessing betwixt $50 cardinal and $100 cardinal successful assets.

The caller Mandarin Oriental task has been nether operation successful downtown Boca Raton since 2019.

In the filing, Via Mizner Owner II says that it intends to usage bankruptcy extortion to restructure its secured indebtedness and proceed the task portion protecting the worth of the property. Other creditors see assorted plan and operation contractors providing materials for the task arsenic good arsenic the section Nicholas Architects firm.

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