100 W. Kennedy Boulevard, Tampa, Florida 33602
Year Opened: 2014 (office building conversion)
Guestrooms: 130 Rooms (inclusive of 16 suites)
THE PLASENCIA GROUP is pleased to present for your investment consideration, as exclusive agent to ownership, the 130-key Aloft Tampa Downtown. The Aloft was introduced to Downtown Tampa in 2014 as a market-leading, lifestyle hotel and has punched well above its weight class since opening. As one of the market’s best-located hotels, the Aloft offers convenient access to Tampa’s urban core, which itself is in the early stages of a generational transformation, in an attractive, walkable waterfront location with a front row seat on Tampa’s game-changing Riverwalk.
The Aloft represents the opportunity to acquire a rapidly restabilizing lifestyle hotel, situated in a prominent, waterfront location within one of the nation’s most attractive lodging markets.
- Irreplaceable Urban Waterfront Location
The Aloft occupies one of the most coveted waterfront land parcels in all of greater Tampa Bay. The hotel site spans some 100 linear feet along the Hillsborough River in the heart of Downtown Tampa, offering irreplaceable waterfront views and convenient, walkable access to Downtown Tampa’s cultural, retail, and leisure amenities as well as the CBD’s primary concentration of Class A office space.
- Stellar Recent Performance
The Aloft’s monthly RevPAR eclipsed 2019 levels in each month between July to December, supported by an impressive product and growing market. With a new general manager in place as of March 2021, the Aloft is well poised to improve upon its recent successes and maximize operating potential through curated revenue management and meticulous expense-saving strategies.
- Beneficiary of Tampa’s Renaissance
Prior to the onset of the pandemic, Tampa was in the midst of a generational rebirth, primarily catalyzed by rapid population growth, several high-profile development projects, and a robust base of leisure business. The pandemic has only accelerated these positive trends, and the Aloft has had a front row seat in the heart of Downtown Tampa.
- Unrivaled Walkability
Centrally located in Downtown Tampa, the Aloft offers convenient walkability to nearly all urban amenities and landmarks within the city. Further enhancing the hotel’s accessibility, Tampa’s Riverwalk transformed Downtown by creating an attractive, visitor-friendly pedestrian and cyclist network along the Hillsborough River, connecting the city’s top attractions and exponentially increasing leisure visits to the city’s urban core.
- Compact, Efficient Hotel
Replete with 130 keys across nine floors, the Aloft is the definition of a compact, efficient operation housed within a modern and attractive hotel. The property, which originated as an office building and was converted to an Aloft in 2014 following a to-the-studs renovation, features modern mechanicals and central air conditioning.
- Continued Upside Potential
The Aloft may benefit from various growth initiatives. Soft goods renovations driven by a PIP should allow the property to further outperform its full-service competitive set.
- Dominant Brand & Distribution System
Aloft ranks among the most dynamic boutique offerings in the hospitality industry, and the diverse nature of Downtown’s guestroom demand profile complements the brand’s traditional customer base. In collaboration with Marriott’s revenue management team, Ownership has improved ADR at the property in recent months and has positioned the hotel for elevated performance by competing with higher-rated full-service products in the Downtown submarket.
Tampa, Florida | Industry Tenure: 42 Years
As the firm’s Chairman and CEO, Lou Plasencia is responsible for The Plasencia Group’s business development activities and the oversight of all acquisitions, dispositions, and advisory engagements. He began his career with Hyatt Hotels Corporation over thirty years ago. After his departure from Hyatt, Lou spent a number of years growing the hospitality investment sales division of a major national commercial real estate firm.
A natural trailblazer, the father of three eventually left the corporate environment in 1993 to launch his own firm, The Plasencia Group, a boutique alternative to corporate hotel brokerage. The close-knit firm was born out of passion and sheer gumption. The oldest of three siblings, Lou arrived in Tampa’s cigar-making district as a young Cuban immigrant, living with his family in a one-room apartment. He is the son of a cigar factory worker who he says instilled in him the importance of “committing yourself to one thing and doing it ethically and better than anyone else.”
As an undergrad at Loyola University in New Orleans, he studied psychology and broadcast media before going on to get his master’s in education from Indiana University. After serving as a Student Affairs administrator at Indiana and then at St. Joseph’s University in Philadelphia, Lou landed a job in sales and marketing department at the Hyatt Regency New Orleans. He eventually returned to Tampa to oversee the development of the Grand Hyatt on the shores of Tampa Bay. From there, he launched a long and storied career in hotel investment sales and consulting and is recognized today as one of the most experienced hotel real estate advisors in the country.
During his three-plus decades as the face of The Plasencia Group, Lou has steered a plethora of heavy-hitting hospitality deals, including one-off transactions and major portfolio disposition engagements. Over the years, he has brought together owners and investors for the InterContinental Hotels in Chicago and Miami, the Four Seasons in Atlanta, Amelia Island Resort in Northeast Florida, PGA National in Palm Beach, the Beverly Hilton in Beverly Hills, and the Arizona Biltmore in Phoenix. Recognized for his integrity and deal savvy, he has served as a trusted advisor for Apollo Global, Brookfield Asset Management, Hilton Hotels Corporation, InterContinental Hotels & Resorts, MetLife Real Estate Investments, Starwood Capital, and Walton Street Capital. Other transaction and consulting clients include Bank of America, Blackstone Group, Host Hotels & Resorts, PGIM, RLJ Lodging Trust and countless family offices and high-net-worth hotel and resort owners.
Lou is an active member of the Hospitality Investment Roundtable of the AHLA. He serves on the Boards of Directors of the Florida Council of 100, the Hillsborough County Tourist Development Council, the Advisory Board for Visit Tampa Bay, and chairs the School Advisory Council of St. Lawrence Parish in Tampa. He previously served on the Board of Trustees of Jesuit High School (Tampa).
A longtime resident of Tampa, he is proud to work alongside his three sons (Chris, Nick and John) in the family business. Lou has been married for four decades to his wife Jennifer, with whom he enjoys cooking, traveling, and playing “off the grid.” If he doesn’t answer his cell phone, it’s because he’s out fishing or hiking a forest.
“One of my favorite words in my native Spanish is “confianza”. It’s the close trust that builds in a friendship over time. It’s the very real affection we have for our longstanding clients. It’s also something we work hard to earn and, most importantly, it lasts a lifetime.”
Tampa, Florida | Industry Tenure: 12 Years
As a Managing Director at The Plasencia Group, Chris Plasencia has closed nearly $2 billion in hospitality transactions over the course of his career, primarily portfolio and single asset dispositions of resorts and full- and premium select-service hotels. The resident attorney on the team, with a background in drafting, negotiating, and executing a wide variety of real estate deals, Chris is well equipped to handle complex hospitality transactions, while fielding the more-than-occasional attorney joke with grace. In addition to personal involvement with his parish and other local organizations, Chris also serves as a member of the Board of Directors of Visit Tampa Bay and the Jesuit High School (Tampa) Board of Trustees. Chris majored in history at Duke University and earned a Master’s degree in real estate from the University of Florida, in addition to his law degree.
When he’s not in the office you can find him spending time with his kids, Claire, Thomas, and Mary, his wife, Katie, whom he’s known since kindergarten, and his golden retriever, Molly. He is the firm’s resident wine connoisseur and makes the second-best barbecue pulled pork in the office.
“I’m going to be with this company for the next 20, 30 years. I’m not looking for quick victories. I’m interested in building long-term relationships.“
Tampa, Florida | Industry Tenure: 14 Years
Nick Plasencia is a Managing Director with The Plasencia Group and specializes in the disposition of full-service, premium select-service, boutique, and resort properties, both in single-asset and portfolio transactions. He has personally transacted nearly $2 billion of lodging assets across all regions of the United States. Mr. Plasencia has had the opportunity to advise a wide breadth of clientele, ranging from privately held owner-operators and high-net-worth individuals, to management companies, private equity funds, and REITs.
Prior to joining the firm, Mr. Plasencia worked in the Real Estate Investment Banking group of Raymond James & Associates, a publicly traded financial services firm, specializing in mergers and acquisitions, public offerings, and private placements. While at Raymond James, Mr. Plasencia was integrally involved in capital raising assignments in the lodging sector, including preferred and common stock offerings.
Nick is a graduate of Harvard University, where he received a Bachelor of Arts degree in Economics. During summer breaks, he worked in operations positions at properties with Marriott International and Quorum Hotels and Resorts, experiences he says helped give him a valuable glimpse into the human element of hotel operations.
Always keen to explore nature or a new city, Nick is a novice runner who credits his outdoorsy wife for whipping him into shape. He enjoys hiking and backpacking during his travels and taking his children for runs in the jogger. Nick is a proud advocate for the Tampa Theater, a historic U.S. theater and city landmark, and has been involved in the Theater’s real estate pursuits and charitable events.
“Our strength is in our team and the unique backgrounds that our team members bring to the table, with experiences in all aspects of the industry, ranging from ownership, to lending, operations, and brands.”
Tampa, Florida | Industry Tenure: 8 Years
Andrew Pappas, a Tampa Bay area native, joined the Plasencia Group in August 2019 after spending nearly two years as a research analyst in the industrial and retail sectors for the real estate behemoth CBRE, while simultaneously earning his master’s degree in real estate finance at Georgetown University. He finds that working for the more boutique Plascencia Group puts him “in the trenches,” closer to the dealmaking, than his tenure at CBRE, where he focused on market research and quarterly reporting. “It’s definitely an engaging environment here,” he says, “and it’s more professionally satisfying to know that my work directly affects client engagements.”
Andrew supports The Plasencia Group’s lodging transaction and advisory engagements through value and feasibility analysis, investor solicitations, negotiations, due diligence oversight, and deal execution. Andrew is also essential to the development of investment marketing materials, providing memoranda and other supporting content that make properties — from premium-branded select service hotels to independent resort complexes — attractive to potential buyers. He continuously hones his skills by working alongside team members with decades of experience across the industry.
Andrew grew up in Clearwater, the son of a real estate attorney. In high school and college, Andrew worked part-time in his father’s law office. Pursuing an interest in real estate, he earned a finance degree from University of South Florida and a master’s in real estate finance at Georgetown University, which combined two of his passions to create a rewarding career.
Andrew is steeped in the heritage of his Greek ethnicity. His mother grew up in Athens and his paternal grandfather owned a Greek bakery in Cleveland, Ohio. He enjoys working out, plays ice hockey regularly, and is an avid traveler.
“It’s definitely an engaging environment here and it’s professionally satisfying to know that my work directly affects client engagements.”