If at first you don't succeed, try again ... and again.
The hotel once known as the Gansevoort South (and even before that the Rooney Plaza) and currently known as the Perry will close sometime this year and after some renovation reopen in 2014 as the 1 Hotel & Residences South Beach.
The hotel will now be known as 1 Hotel and Residences, a luxury eco-friendly brand.
"This isn't paint and carpet, this is a full gut of nearly everything in the property," Barry Sternlicht, chairman and CEO of Starwood, told the paper. "You won't recognize the building, you won't recognize the pool deck, you won't recognize anything."
According to the Herald, the renovations will cost $100 million.
Sternlicht is the man who originally created the W hotel chain. His relatively new 1 Hotel brand uses sustainability and eco-friendly-ness as a selling point. Other locations are expected to open in Manhattan and Brooklyn in the next two years.