A new 17-story, 800-room hotel in Miami Beach has reached its structural topping-out, marking a key milestone for the project.

Balfour Beatty's U.S. subsidiary, headquartered in London, announced on July 30 that the Grand Hyatt Miami Beach hotel it is building has officially topped out. Located adjacent to the Miami Beach Convention Center, the hotel is one of the most high-profile new projects in the area.

According to the announcement, the hotel will feature 12 elevated guestroom floors, including 50 suites overlooking Miami Beach. Additionally, the hotel will offer 110,000 square feet of meeting and banquet space across four levels, complementing the convention center's facilities. This space will include an 8,000-square-foot "Great Lawn" located on the fifth-floor rooftop amenity deck.

The hotel will also feature panoramic city views, a signature restaurant, a lobby lounge and bar, and 17,000 square feet of retail space. Additionally, the hotel will be directly connected to the convention center via a climate-controlled skybridge.

According to Balfour Beatty's plans, future development will also include new public spaces, pedestrian-friendly boulevards, bike-share stations, and connections to the public transit system.

"The completion of a hotel of this scale and its connectivity to the convention center opens the door to interest and willingness for many large conventions and trade shows that have never been held here before," said David Whitaker, president and CEO of the Greater Miami Convention & Visitors Bureau, in the announcement.

Balfour Beatty originally won the contract in 2023 from developers Terra Group and Turnberry. The project was initially scheduled to begin in 2023, but the timeline was delayed until the construction team officially broke ground in April 2025. At the time of groundbreaking, Balfour Beatty listed the contract value at approximately $385 million.

This topping-out milestone comes against a backdrop of a broader downturn in the hotel construction market—according to data through the second quarter of 2026, the industry pipeline has seen widespread declines. However, downtown Miami, as a hotel market recovering after the COVID-19 pandemic, has shown positive momentum.