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| Grand Plaza Hotel, St. Pete Beach, FL |
TAMPA, FL –– Holliday Fenoglio Fowler, L.P.
(HFF) announces the $100 million sale of the Grand Plaza Hotel and the
Beachcomber Beach Resort and Hotel, two waterfront hotels totaling 258 rooms in
St. Pete Beach, Florida.
The HFF team marketed the hotels on behalf of the
seller, Excel Hospitality Inc. A venture led by Gencom purchased the
hotels, and BENCHMARK®, a global hospitality company, will manage the assets.
The HFF investment advisory team
representing the seller included senior managing director and head of HFF’s
hotel group Daniel C. Peek, director Preston Reid and associate Wyatt
Krapf.
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Beachcomber Beach Resort and Hotel, 6200 Gulf Boulevard
St. Pete Beach, FL |
Situated on 3.71 acres at 5250 Gulf Boulevard, the 156-room Grand Plaza
Resort opened in 1975 as a Hilton Hotel and was most recently renovated between
2014 and 2016.
The hotel houses
the only revolving rooftop restaurant and
lounge in the state of Florida, Spinners Rooftop Revolving Bistro & Lounge,
along with three other food and beverage outlets, Bongos Beach Bar &
Grille, Level 11 Rooftop Lounge and The Palm Room Restaurant.
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| Daniel C. Peek |
Additional
hotel features include direct beachfront access, beach cabanas, heated
beachfront swimming pool, private balconies, water sports rentals, 24-hour
fitness center, executive business center and 8,000 square feet of flexible
meeting space.
The Beachcomber Beach Resort and Hotel is a 102-room
beachfront property on 6.27 acres at 6200 Gulf Boulevard.
The two-story
hotel hosts daily live entertainment and has two outdoor heated swimming pools;
an executive business center; a lush central courtyard and two food and
beverage outlets, Jimmy B’s Beach Bar and Grill and Players Sports Bar and
Grill.
The hotels are a quarter mile apart and span
across a combined 9.98 acres with approximately 450 linear feet of Gulf
frontage on St. Pete Beach, which was ranked the 2018 No. 7 “Best Beach in the
U.S.” by TripAdvisor and is a former No. 1 “Best Beach in the U.S.”
St.
Pete Beach is a barrier island at the southern end of Pinellas County 8.6 miles
west of downtown St. Petersburg and less than 30 miles from downtown Tampa.
The HFF Hotel Team continues to be
active in the St. Petersburg area resort market, having recently advised on the
sales of The Renaissance Vinoy Resort & Golf Club and the Postcard Inn On
The Beach.
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| Preston Reid |
“The Tampa Bay region continues to be a magnet
for hospitality investment, drawn by its vibrant, diverse economy and
tremendous leisure and recreation amenities,” Peek said.
“This transaction made it abundantly clear that
there is significant institutional interest in St. Pete Beach, and we are
looking forward to seeing the next chapter for these two resorts and many
others on this beach in the years to come,” Reid added.
Excel Hospitality Inc. offers accommodations on
some of the best beaches directly on the Gulf of Mexico. The company
manages several St. Petersburg Beach beachfront restaurants, eloquent banquets,
conference centers, meeting rooms, beach bars and entertainment and beach
weddings and receptions.
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| Wyatt Krapf |
Gencom is a U.S.-based investment firm that
owns, operates and develops prized real estate around the world, with an
emphasis on luxury hotels, resorts and branded residential properties, and is
also an active owner of and investor in hospitality operating platforms. .
CONTACTS:
DANIEL C. PEEK
FL Lic. # SL3230371
HFF Senior Managing Director
(212) 245-2425
PRESTON REID
FL Lic. #SL3333915
HFF Director
(813) 387-9900
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
