(Bloomberg) -- Cain International is acquiring a minority stake in the luxury hotel brand Delano as it seeks to expand its investment in lifestyle assets. 

The property investment firm has entered into talks with hospitality company Ennismore for a partnership to help expand the Delano brand globally, according to a statement Thursday. Delano is working to push into cities including Seoul, Istanbul and Cartagena, Colombia, with other locations under negotiation. 

As part of the deal, the Delano South Beach will be renovated and reopen as the flagship location for the brand, which started in Miami in 1995. 

“It’s a huge opportunity for all of us,” Jonathan Goldstein, Cain’s chief executive officer, said in a phone interview. “It’s such a well-known, iconic brand that we’re very excited to use it as the launchpad for a lifestyle brand.”

Last year, Cain and Saudi Arabia’s Public Investment Fund invested $900 million in luxury hospitality firm Aman Group. Cain has also partnered with brands such as Soho House and Rosewood Hotel Group.

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