There’s a new trend sweeping across France—and it’s not wine or war museums. It’s château conversions, where ultra-high-net-worth investors, family offices, and creative entrepreneurs are reviving historic estates and turning them into high-yield hospitality plays.

It’s Spring 2025, and while Manhattan is quietly rebounding, Miami is showing cracks in its once red-hot luxury market. The pandemic-era narrative—“Everyone is fleeing NYC for sunny, tax-free Florida”—is looking more like yesterday’s headline.