Plasencia Group Announces Sale of the Marriott Waterside Hotel & Marina in Tampa, Florida
Tampa, FL - October 7, 2014 - The Plasencia Group is pleased to announce the sale of the Tampa Marriott Waterside Hotel & Marina, located in Tampa, Florida. The firm exclusively represented the owner, HMC Hotel Development LP, an affiliate of Host Hotels & Resorts, in the sale. The 719-key hotel, located in Tampa's Channelside District, sold for $199 million.
"Host Hotels has been an excellent steward of the Tampa Marriott Waterside since 2000 when the hotel was built as a catalyst for economic development," said Lou Plasencia, CEO of The Plasencia Group. "The community is fortunate to now have a thoughtful group of investors in Jeff Vinik and Cascade Investments taking ownership. Their vision to create a complete destination in downtowm Tampa for locals and visitors alike will allow the Marriott to truly fulfill its original purpose."
The Marriott Waterside is the largest hotel in the Tampa Bay region. It is strategically located adjacent to the Tampa Convention Center. Recognized as a rapidly improving hotel market, Tampa is projected to achieve some of the highest gains in RevPAR in the nation in the coming years.
About The Plasencia Group
The Plasencia Group is a multi-faceted, full-service hotel investment and consulting firm with three corporate divisions: Transaction Services, Capital Markets, and Consulting & Advisory Services, serving clients through its U.S. regional offices. For more information, please visit www.TPGhotels.com.
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 
