Tampa, Fla. (July 11, 2022) – THE PLASENCIA GROUP announced today that it has closed the sale of the Courtyard by Marriott Naples on behalf of Bentley Legacy Holdings. The premium, select-service, 102-room hotel is ideally positioned within Naples, Florida, due to its contemporary guestroom product, desirable brand, and a central location in one of the nation’s fastest growing submarkets.
Nick Plasencia, Managing Director with The Plasencia Group, commented, “The Courtyard is a great example of an owner effectively executing its business plan and elevating an asset, setting up new ownership with its own runway for success.” He added, “The Courtyard Naples’ physical upgrades and performance improvement are a result of Bentley Legacy Holdings’ meticulous stewardship, and the proliferation of Florida’s Gulf Coast as a premier global destination for leisure and business.”
The Courtyard Naples 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 3,180 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 nearly $350,000 per key.
Many of Florida’s major metro areas, including Naples, Miami, Orlando, and the Tampa Bay Area comprise the fastest-growing regions in the country, with countless new residents flocking to Florida annually. The institutional hotel investment community has taken notice as the state’s economy has flourished amidst 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.