Can’t say this news is surprising:

Nicky Hilton’s Miami Beach condo-hotel is kaput and her developer partner is seeking bankruptcy protection so he can turn the property into another hotel, The Miami Herald reports today.

It was obvious the socialite/designer’s debut Nicky O hotel was in trouble when it didn’t open as planned late last year and her reps didn’t return calls asking what was up. When I was in Miami this winter, the Ocean Drive hotel site was an unfinished shell with no workers toiling.

Nicky also was supposed to have a Nicky O in Chicago, but that project has stalled, too. So stay tuned to see if she resurfaces as a hotelier.

Looks like Nicky isn’t taking the news too hard — she was spotted frolicking around Malibu yesterday with her fellow jobless boyfriend, David Katzenberg.