Becnel Family Completes Acquisition of Sandestin Resort
Includes the Management Contracts for the Two Sandestin Marriott Properties in Destin, Florida
DESTIN, FL - March 16, 2010 - The Becnel Family today announced the acquisition and purchase of Sandestin Golf and Beach Resort, the leading resort on Florida's Emerald Gulf Coast. Terms of the agreement were not disclosed.
This purchase from Intrawest ULC also included the management contracts for Cottage Rental Agency, a community of beach homes located in Seaside, Florida; and the management contracts of the two Sandestin Marriott properties, the Courtyard by Marriott Sandestin at Grand Boulevard and Residence Inn by Marriott Sandestin at Grand Boulevard, both Howard Group developments.
The Becnel family and the property management teams are committed to continuing excellent service and memorable guest experiences. Teams are preparing for the upcoming popular spring and summer seasons, and staff members are being added to manage the additional demand.
The purchase of the resort by the Becnel family is expected to continue and even accelerate many of the positive changes that have occurred at the resort in the past year including a renewed focus on service that has significantly raised customer satisfaction scores. Spring and summer group and leisure business bookings are also exceeding previous estimates. The rental program has gained momentum in 2010 with improvements in rental owner communication and agreements. Plans for an expansion to the community transportation system are underway, and teams are working on reductions in the carbon footprint of the resort.
In related news, the Becnel family announced the creation of two newly formed holding companies, Sandestin Investments, LLC and Sandestin Real Estate of NW FL, LLC.
Sandestin Investments will be the new parent company for Sandestin Golf and Beach Resort and the Cottage Rental Agency in Seaside. John Russell, resort chief of Sandestin Golf and Beach Resort and former senior vice president of Intrawest, has been named President of Sandestin Investments.
Sandestin Real Estate of NW FL will oversee residential and commercial operations and transactions. Joe Bracciale, formerly the operating Broker for Playground Destination Properties Inc., has been named President of Sandestin Real Estate (www.sandestinrealestate.com).
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