Despite the economy, the South Beach W Hotel has opened their doors with much fanfare.

Developers pumped more than $500 million into the 408-unit condo-hotel that features an oceanfront balcony and marble bathrooms in each guest room, as well as contemporary art in public spaces from such masters as Andy Warhol, Jean-Michel Basquiat and photographer Danny Clinch.

Some facilities will open later this summer, including the first Florida outlet of Mr. Chow restaurant and a unit of New York-based Bliss Spa.

Through Dec. 31, the hotel offers a package starting at $382 per night that includes DJ lessons, jet ski rides, a cocktail tour, room upgrade, The Little Black Book of Party Games and other goodies for two.