Following intense lobbying by Coral Gables officials and city residents for The Biltmore’s acquisition, in 1973 the City of Coral Gables was granted ownership of the hotel through the Historic Monuments Act and Legacy of Parks program. But the City remained undecided as to the structure’s future, and The Biltmore remained unoccupied for almost 10 years.
Finally in 1983, the City initiated a full restoration of the Biltmore to its former glory as a grand hotel. Nearly four years and $55 million later, The Biltmore re-opened on December 31, 1987 as a four-star hotel and resort. More than 600 guests turned out to honor the historic Biltmore at a black-tie affair. The hotel remained open for three years, but closed again in 1990 in the midst of the country’s economic downturn.