the grand plaza beach hotel & beach resort
Gencom-Led Partnership Acquires Two St. Pete Beach Resorts for $100 million
BENCHMARK | January 3, 2019
MIAMI, Jan. 3, 2019 -- As part of its ongoing strategy to acquire unique hospitality assets anchored by strong underlying real estate and with unique repositioning opportunity, a Gencom-led partnership has announced the acquisition of two resort assets situated along St. Pete Beach, Florida. The Beachcomber Beach Resort and Hotel and The Grand Plaza Beach Hotel & Beach Resort were acquired at a reported purchase price of $100 million. The partnership will commit an additional $24 million for major renovations to upgrade and rebrand the two properties. While both assets will initially remain independent and unbranded, BENCHMARK®,...
BENCHMARK to Manage, Renovate and Reposition Two St. Pete Beach Resorts Purchased by Capital Partner Gencom
January 3, 2019
The Woodlands (Houston), Texas, January 3, 2019 … Expanding its presence in Florida to the state's popular Gulf Coast, BENCHMARK®, a global hospitality company, will manage, renovate and reposition two properties on St. Pete Beach, an award-winning destination off the coast of St. Petersburg in Tampa Bay. A venture led by Benchmark's capital partner, Gencom, has purchased the two beachfront properties, The Beachcomber Beach Resort and Hotel and The Grand Plaza Beach Hotel & Beach Resort and committed $24 million for major renovations to upgrade the two properties. Gencom and Benchmark forged a strategic management par...
