Highline Hospitality Partners Inks Third Deal With Acquisition of Pearl South Padre Resort
Transitioning to a Margaritaville Resort After Renovations, the New Ownership Tapped Aimbridge Hospitality to Manage the Property, Set to Open in 2022.
Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has added their third property with the acquisition of Pearl South Padre Resort in Texas and tapped Aimbridge Hospitality, the leading, global, third-party hotel management company, to manage the property. They are preparing to convert the destination to a Margaritaville resort, the global lifestyle brand synonymous with fun and escapism, with an expected opening of Summer 2022.
New York City-based Highline Hospitality Partners' team has over 60 years of combined experience across sourcing, purchasing, asset-managing, renovating, repositioning, and selling hospitality properties and has operated all classes of hotels. With unique investment experience and deep industry relationships, Highline seeks out undervalued and underperforming properties with a "buy it, fix it" strategy that has seen success in building a diverse and dynamic portfolio.
"We are thrilled to add the Pearl South Padre Resort to our growing portfolio," said Highline Hospitality Partners' Managing Partner, Chuck Pomerantz. "We believe with our team's combined experience and Aimbridge's proven operating acumen that this property will find much continued success now and in the future with a beloved brand like Margaritaville."
Pearl South Padre Resort comprises 200 rooms and suites and 53 beachfront residence condos in one, two, or three-bedroom configurations. All rooms feature a refrigerator, and all condos are equipped with complete kitchens and full-size appliances. The property is the only all ocean view resort in the area, with a private balcony and views of the Gulf of Mexico in every room.
Additional amenities include an on-site spa with Aveda botanicals and products, the area's largest outdoor pool boasting a hot tub, swim-up bar and kids-only pool, and fitness and business centers. Dining options include the Beachside Bar & Grill for indoor and outdoor service and Palapa Bar & Grill for poolside eats. The property also has 8,500 square feet of meeting and event space for corporate gatherings, weddings, and more.
Once renovations are complete, the resort will officially transition to a Margaritaville destination, which will, upon opening in 2022, transport guests, families, and travelers to a vacation state of mind.
Pearl South Padre Resort is located at 310 Padre Blvd, South Padre Island, Texas 78597. For reservations, visit: https://www.pearlsouthpadre.com/.