Vinoy hotel in downtown St. Pete sold to group controlled by Tampa Bay Buccaneers co-chairman
Updated: Oct 28, 2018
By Ashley Gurbal Kritzer – Senior Reporter, Tampa Bay Business Journal The historic Vinoy Renaissance Resort & Golf Club in downtown St. Petersburg has been sold to SCG Hospitality LLC, which is led by Tampa Bay Buccaneers co-owner and chairman Bryan Glazer.
SCG Hospitality, through hospitality investment advisory firm The Plasencia Group, said Wednesday that it has acquired the 362-room hotel and 18-hole golf course but did not disclose a purchase price. A Pinellas County deed has not yet been filed.
The Plasencia Group has been retained by SCG to provide owner representation and development services on the property. SCG plans to renovate the property.
“With its tremendous charm and character, The Vinoy is a destination unto itself," Lou Plasencia, CEO of The Plasencia Group, said in a statement. "SCG Hospitality will be looking toward thoughtful enhancements to improve the The Vinoy and its amenities that will only serve to elevate the resort’s excellent reputation among its guests and local residents.”
Plasencia said his group is "genuinely excited to work alongside" Glazer.
The Vinoy's ownership changed in December 2017 as the result of a merger of real estate investment trusts. It is now owned by FelCor Lodging Trust (NYSE: FCH).
The purchase price will likely be among the most significant hotel transactions in Tampa Bay history.
The property includes nearly 60,000 square feet of versatile meeting space and a 74-slip marina. Marriott will continue to manage the property.
“The Vinoy is a crown jewel for the City of St. Petersburg and the entire Tampa Bay area," Glazer said in a statement. "I look forward to the Vinoy being just as iconic on its upcoming 100th anniversary as the day it opened in 1925.”
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