The Plasencia Group advises on the sale of the DoubleTree North Redington Beach
Tampa, Fla. (July 19, 2022) – THE PLASENCIA GROUP has closed the sale of the DoubleTree Beach Resort by Hilton Hotel Tampa Bay – North Redington Beach on behalf of a consortium of Tampa Bay Area owners. The full-service, 125-room hotel and its popular Mangos Restaurant and Tiki Bar occupy a special place in the idyllic Pinellas County community of North Redington Beach, beloved by locals and repeat travelers alike. The resort’s 230 linear feet of pristine Gulf of Mexico beachfront lures visitors year after year, many of whom are repeat guests. The hotel’s outstanding views, charming dining experience, and delightful hospitality have yielded an abundance of accolades that includes nine consecutive TripAdvisor Hall of Fame awards and seven Annual Pride Awards for Quality.
Nick Plasencia, Managing Director with The Plasencia Group, commented, “Our client owned and operated the DoubleTree since the day it opened more than three decades ago, and we are deeply honored in their trust to represent them. We’re excited for what new ownership has in store for the asset. The DoubleTree’s irreplaceable station in the local community remains in great hands.” Chris Plasencia, Managing Director, added, “The Pinellas County beaches have been rock stars throughout the pandemic. Unrelenting public and private sector investment throughout the Tampa Bay Area has allowed the region to really stand out as a blue-chip destination for institutional capital.”
The DoubleTree Resort North Redington Beach sale is one of the latest in The Plasencia Group’s recent history of successful dispositions throughout Florida. Since the beginning of 2021, the firm has orchestrated the sale and financing of approximately 3,300 rooms across the Sunshine State’s most active lodging markets. Over the same period, the value of the firm’s fee-simple dispositions across Florida averaged well over $360,000 per key.
North Redington Beach is just the latest of Florida’s destinations to generate appeal within the hospitality investment community. Hotels and resorts along Gulf Coast, from the Panhandle to Naples, and properties spanning from the Florida Keys along the Atlantic Coast to Amelia Island, have become the most desirable assets in the United States as domestic leisure travel to the Sunshine State has surged, leading to numerous record months for markets both coastal and inland.
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.