Florida Hotel and Resort Portfolio Transacted by the Plasencia Group

The Firm Has Now Transacted the Three Largest Hotel and Resort Asset Sales in the State of Florida, by Dollar Volume, in the Last Twelve Months.

USA, Tampa, Florida. February 02, 2021

The Plasencia Group, a leading lodging investment advisory and consulting firm, represented Hobbs & Curry Family Limited Partnership in the sale of the 227-room Hilton St. Petersburg Carillon Park in St. Petersburg, Florida, and the 139-key, 24-acre, Islander Resort in Islamorada, Florida. This transaction marks the firm's second in the Florida Keys in the last 100 days. The Plasencia Group has now transacted the three largest hotel and resort asset sales in the State of Florida, by dollar volume, in the last twelve months.

The two properties were purchased by a joint venture of Lubert-Adler Real Estate Funds and Hersha Hospitality Management, both based in Philadelphia, Pennsylvania, and Loci Capital, based in Tampa, Florida. Hersha Hospitality Management will operate both assets. A team of The Plasencia Group's principals, including Chief Executive Officer Lou Plasencia, Senior Managing Director Robert Wiemer, and Managing Directors Nick Plasencia and Chris Plasencia, represented the seller in facilitating the transactions.

"Completing complex transactions during the COVID-19 pandemic takes creativity and perseverance. We commend our client and the purchaser for their collaborative efforts while patiently navigating through this environment," said Chris Plasencia.

"The Hilton and Islander Resort have two entirely different location and demand profiles. This transaction is emblematic of the unprecedented investor interest in Florida lodging properties today, especially those on or near the coast," added Nick Plasencia. "The state's resilient economy and lodging outperformance has piqued the interest of sophisticated investors across the country looking to invest in assets just like these."

Over the past 100 days, The Plasencia Group has successfully completed more than $200 million in hotel and resort transactions to well-capitalized investors who are actively acquiring hotels as early movers in this part of the investment cycle. Additionally, the firm has successfully completed well over one hundred engagements in Florida, representing every brand family and asset type across each major market in the Sunshine State.


Hilton St. Petersburg Carillon Park
Islander Resort
/ SLIDES
Tags: The Plasencia Group, investment advisory, Florida, Florida Keys, portfolio transaction

About The Plasencia Group

Media Contact:

Jodie Orozco
Senior Vice President of Marketing & Partnerships
The Plasencia Group
T: +1 813-445-8277
E: jorozco@tpghotels.com
W: http://www.tpghotels.com

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in July 2021...

Hotel Spa: Immense Transformation

There is no doubt that the Hotel Spa industry is undergoing an immense transformation as a result of the pandemic. New cleanliness standards for facilities, new safety standards for employees, and new ways of interacting with guests are now the New Normal, and will be for the foreseeable future. Given that some former patrons might be reluctant to return due to safety concerns, some spas are offering contactless experiences that utilize high-tech technologies to address wellness concerns like sleep, stress, pain, and immunity. Other spas are expanding their services to include life coaches, osteopaths, psychologists, and nutrition counselors in an effort to help their guests achieve a balanced lifestyle. Some spas are tapping into traditional Asian rituals to create programs such as sound healing, chakra balancing, and intuitive energy reading. Other programs emphasize re-connecting with Nature and have developed outdoor treatments such as Star Bathing, Feet in the Creek, and Treehouse meditations. The July issue of the Hotel Business Review will document what some hotel spas are doing to promote and manage their operations so guests can safely return for their health, wellness and beauty treatments.