Tampa, Fla. (September 12, 2018) – The Plasencia Group is pleased to announce that it will serve as owner’s representative for the historic 362-room Vinoy® Renaissance Resort & Golf Club in downtown St. Petersburg, Florida, providing SCG Hospitality with asset management and development management services as SCG considers investments to enhance the resort.
“We are delighted to assist SCG Hospitality in a thoughtful and methodical process aimed at enhancing this venerable Florida destination,” commented Lou Plasencia, Chief Executive Officer of The Plasencia Group. We will work with SCG to oversee improvements to the resort’s buildings and amenities, including renovations and ongoing asset management. We are truly excited to realize the potential of this iconic property amidst the tremendous growth in downtown St. Petersburg and the west coast of Florida.”
In addition to providing asset management and development management services, The Plasencia Group served as investment advisor to SCG Hospitality throughout its acquisition of the Vinoy, consulting on underwriting the asset and securing debt to fund the purchase. Lou Plasencia added, “We worked with all parties to the transaction to complete this engagement on a remarkably condensed timeline. We are proud to have been involved with one of the largest sales of a Renaissance-branded property in the United States.”
The Vinoy transacted on August 28, 2018 and represented one of the largest historical lodging asset sales in the region on a price-per-room basis. The Plasencia Group has successfully completed investment advisory and consulting engagements for more than 100 hotel and resort assets in Florida since it was founded in 1993. The firm has also completed engagements involving more than 60 Marriott-branded hotels and resorts nationally and internationally.