Tampa, Fla. (May 25, 2022) – THE PLASENCIA GROUP announced today that it has closed the sale of the Dolphin Beach Resort on St. Pete Beach on behalf of long-time owner Dolphin Holdings Limited, Inc. The historic 173-room resort occupies an extraordinary Gulf-front location on the nation’s top-rated beach, as ranked by TripAdvisor. The purchaser is SCG Beach Hospitality, LLC, an entity controlled by Bryan Glazer.
The president of Dolphin Holdings Limited, Nizar Lakhani, commented, “We have believed in the international appeal of the St. Pete Beach market since we arrived in the area in 1981, when we acquired the Dolphin Beach Resort. We are pleased to be passing on the keys to the resort to Shanna and Bryan Glazer, a well-respected local family who we know will be great stewards.”
Bryan Glazer, principal of SCG Beach Hospitality stated, “St. Pete Beach is the #1 beach in the United States, and we think that the future will only get better for the area. We look forward to maximizing the potential that we believe the Dolphin Beach Resort offers.” This marks their second resort acquired in the area. The Vinoy Resort & Golf Club in Downtown St. Petersburg, which was purchased in August of 2018, is currently undergoing a massive property-wide renovation and repositioning. Phase I is scheduled to be completed near the end of this year, and the plan is to now renovate the Dolphin Beach Resort as well.
Nick Plasencia and Chris Plasencia facilitated the transaction, one of the latest in The Plasencia Group’s recent history of successful dispositions throughout Florida. The firm has orchestrated the sale and financing of more than 2,500 rooms across the Sunshine State’s most active lodging markets in the past year, at an average value of nearly $350,000 per key.
“The Dolphin Beach Resort enjoys pride of place at the heart of St. Pete Beach, one of the nation’s most attractive lodging destinations,” commented Nick Plasencia. “We look forward to seeing what the Glazers have in store for this generational resort.”
Many of Florida’s major metro areas, including the Tampa Bay Area, Miami, Naples, and Orlando rank among the fastest-growing regions in the country, with countless new residents flocking to Florida daily. The state’s economy is booming due to factors such as a highly favorable business climate, a relatively lower cost of living, abundant employment opportunities, and growing airlift for international and domestic business travel.
About The Plasencia Group
The Plasencia Group is a full-service lodging investment advisory firm offering transaction services, capital markets, asset management, and development management consulting services to hotel and resort owners throughout North America. The firm has completed some of the most notable transactions across North America since it was founded in 1993.