La Cité’s partners were equity partners in Flag Luxury Properties, LLC, a developer of luxury commercial and residential communities. Flag Luxury Properties has formed partnerships with such world-class entities as Ritz-Carlton Hotel Company, LLC, St. Regis Hotels & Resorts, Starwood Hotels & Resorts Worldwide, Inc., and Jack Nicklaus Design. Among the projects developed by Flag Luxury Properties is the Ritz-Carlton, South Beach. The project involved the complete restoration of the original 1953 Morris Lapidus-designed hotel, the DiLido, in the city’s historic Art Deco district. The Ritz-Carlton, South Beach, includes 376 luxury guest rooms, a 16,000 square-foot, four-star Ritz-Carlton Spa, two restaurants, including upscale dining and casually chic oceanfront lounge dining, an elevated outdoor pool and private daybeds overlooking the Atlantic Ocean, and elegant meeting and conference facilities totaling 20,000 square feet.