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: [email protected]
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 November 2021...

Architecture & Design: Wellness is Key


Like every other facet of hotel operations, architecture and design firms are adapting their work to ensure the safety and well-being of both guests and staff. New ways to bring Wellness into hotel spaces are being explored and these solutions are taking on many forms. Hotel designs are incorporating more open floor plans, open air spaces, high ceilings, outdoor areas and operable walls into their spaces. Guests no longer want to be packed into tight areas. More "biophilic" elements are also being incorporated, offering guests the sense of being outdoors. Another trend is the reimagining of guest rooms to support remote work capabilities. Some hotels are converting empty guest rooms into office spaces, complete with effective lighting and suitable backgrounds for video conferencing. Dedicated Zoom Rooms are also becoming increasingly popular. The main goal is to provide guests with a positive experience in a space that feels safe and comfortable. These are some of the architecture and design subjects that will be covered in the November issue of the Hotel Business Review.