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.

Located at one of the world’s most famous intersections at Hollywood and Vine, the W Hollywood will neighbor the world-famous Kodak theatre.

The W Hollywood Hotel & Residences will include a 300 room W Hotel, 143 residences, 374 apartments, approximately 60,000 square feet of retail space, and a 9,200 square foot Bliss Spa.

Residents will have all the benefits of being attached to a W Hotel, including private in-home catering, maid service, room service and more.