An owner of the National Football League team in Tampa bought a waterfront resort and downtown landmark across the bay in St. Petersburg for $188.5 million.
Tampa Bay Bucanneers owner Bryan Glazer bought the Vinoy Renaissance Resort & Club through a company he owns, SCG Hospitality LLC.
SGC Hospitality paid $185 million and released $3.5 million of club member deposits to acquire the property, which includes a 362-key hotel, an adjacent marina, and an 18-hole golf course.
The seller, RLJ Lodging Trust, got a price that equated to $511,049 per hotel room.
The St. Petersburg resort, built in 1925, is listed on the National Register of Historic Places.
A $50 million project is under way to renovate nd expand the hotel and the exclusive Vinoy Club.
The HFF team that worked for RLJ included: senior managing directors Daniel Peek and Roland Merchant, managing director Max Comess, directors Preston Reid and Alexandra Lalos, and associate Wyatt Krapf.
“The Renaissance Vinoy is an iconic asset in the Florida resort market, and the repositioning begun by RLJ Lodging Trust will position it to continue its dominant presence in the Tampa Bay region,” Peek, head of HFF’s hotel group, said in a prepared statement. [Business Observer] – Mike Seemuth