Playboy has agreed to buy the boutique Freehand Miami hotel in Miami Beach from European hostel operator Generator, the company announced Nov. 5. The deal is valued at $12.5 million and is scheduled to close Dec. 15.
During a quarterly earnings call that day, Playboy CEO Ben Kohn said Think Hospitality and Infinity Collective will work with the brand to develop a members-only club at the property. Kohn called the club “a foundational piece” of the company’s hospitality strategy, according to TradingView.
The hotel is still taking bookings through November 2027, according to its website. Representatives did not respond to a request for comment. The property also includes two bars, the Broken Shaker and Ray’s Hometown Bar, and it is unclear how the new owner will affect either one.
The move is the latest attempt by Playboy to run hotels in Miami Beach. Founder Hugh Hefner opened the short-lived Playboy Plaza Hotel in 1972. Playboy also ran a members-only club in New York City that closed in 2019 after less than a year, and the company began moving its operations from Los Angeles last summer.
