The Flag Group of Companies, the predecessor to Flag Luxury, was founded in 1946 by Peter J. Kanavos Sr. The group has developed over $4 billion worth of assets – including some of the first Marriott and Holiday Inn Hotels; the Intercontinental Hotel, Athens; the Sheraton Hotel, Brussels; and the Trade Fair Hotel, Lagos. Today, Flag Luxury – headed by Co-Chairmen Paul Kanavos and Dayssi Olarte de Kanavos, is headquartered in New York City and proudly carries on the Flag legacy with imagination and discipline. Through innovative financing, strategic partnerships and distinctive architectural execution, Flag Luxury remains at the cutting edge of today’s real estate industry.
Notable recent projects include The Ritz-Carlton, South Beach; The Ritz-Carlton, Coconut Grove and Residences; The Ritz-Carlton Golf Club and Spa Jupiter; The Shelborne Wyndham Grand South Beach; The Wyndham Orlando I-Drive Resort; I Shops Retail Orlando; I-Drive 360 Orlando entertainment and retail complex; the Harmon Retail Center on the Las Vegas Strip; and The Ritz-Carlton Shops South Beach. Flag Luxury currently has over $1 Billion of new projects in its pipeline in New York City, Miami and San Francisco.