Sale of Amelia Island Plantation Complete
TAMPA, FL - September 17, 2010 - TRT Holdings/Omni Hotels completed its purchase of Amelia Island Plantation today. Following an August 23 standing-room only bankruptcy auction in which Starwood Capital and Noble Investment Group also vied for the storied north Florida beach resort, TRT emerged as the successful bidder at $67.1 million ($269,478 per room).
Amelia Island Plantation, located just 29 miles north of Jacksonville International Airport, is a 1,350-acre property that overlooks the Atlantic Ocean on the east and the Intracoastal Waterway on the west. The 249-room resort features 54 holes of championship golf, a tennis center, spa, and 50,000 square feet of meeting space.
“The bankruptcy sale of the Plantation has been a long and arduous journey for its residents, employees, creditors and vendors. The final outcome in this transaction, however, has been a very positive one; a rarity in this economic environment,” commented Lou Plasencia, CEO of The Plasencia Group. “ With TRT and Omni as the new owner/operator, the future is now very secure for all involved. The fact that secured creditors were made whole is also very satisfying and affirms the thoroughness of the process we conducted.”
Amelia Island Company retained The Plasencia Group to maximize the value of the company's assets for all stakeholders by conducting an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code. In all, the firm generated over 90 bona fide inquiries and conducted nearly 30 formal property inspections by pre-qualified investors.
About The Plasencia Group, Inc.
Founded in 1993, The Plasencia Group provides hospitality investment sales, consulting, and advisory services throughout the United States, Canada and the Caribbean. The Plasencia Group offers personalized lodging-related investment sales opportunities, asset disposition, and advisory services to life insurance companies, banks and pension funds, and private owners of hotels, resorts, and golf courses. With offices across the country, TPG offers a full range of value-added solutions, including single asset and portfolio dispositions, strategic portfolio analysis, asset and loan monitoring, note sales, operations benchmarking, operator and brand negotiations, hotel development consulting, asset management, and debt and equity placement.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
