Hotel Online
News for the Hospitality Executive


 
 
Sale of Amelia Island Plantation (FL) Complete



TAMPA, FL,  September 17, 2010 –TRT Holdings/Omni Hotels completed its purchase of  Amelia Island Plantation today.  Following an August 23 standing-room only bankruptcy auction in which Starwood Capital and Noble Investment Group also vied for the storied north Florida beach resort, TRT emerged as the successful bidder at $67.1 million ($269,478 per room). 

Amelia Island Plantation, located just 29 miles north of Jacksonville International Airport, is a 1,350-acre property that overlooks the Atlantic Ocean on the east and the Intracoastal Waterway on the west.  The 249-room resort features 54 holes of championship golf, a tennis center, spa, and 50,000 square feet of meeting space.

“The bankruptcy sale of the Plantation has been a long and arduous journey for its residents, employees, creditors and vendors.  The final outcome in this transaction, however, has been a very positive one -- a rarity in this economic environment,” commented Lou Plasencia, CEO of The Plasencia Group.  “ With TRT and Omni as the new owner/operator, the future is now very secure for all involved.  The fact that secured creditors were made whole is also very satisfying and affirms the thoroughness of the process we conducted.”

Amelia Island Company retained The Plasencia Group to maximize the value of the company’s assets for all stakeholders by conducting an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code.   In all, the firm generated over 90 bona fide inquiries and conducted nearly 30 formal property inspections by pre-qualified investors.

About The Plasencia Group, Inc. 
Founded in 1993, The Plasencia Group provides hospitality investment sales, consulting, and advisory services throughout the United States, Canada and the Caribbean.  The Plasencia Group offers personalized lodging-related investment sales opportunities, asset disposition, and advisory services to life insurance companies, banks and pension funds, and private owners of hotels, resorts, and golf courses.  With offices across the country, TPG offers a full range of value-added solutions, including single asset and portfolio dispositions, strategic portfolio analysis, asset and loan monitoring, note sales, operations benchmarking, operator and brand negotiations, hotel development consulting, asset management, and debt and equity placement.

.
Contact: 

Karen Brand
Vice President of Marketing & Communications
The Plasencia Group, Inc.
203.202.4549 Cell
kbrand@TPGhotels.com
 

.
..

To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch
Home | Welcome| Hospitality News | Classifieds| One-on-One |
Viewpoint Forum | Industry Resources | Press Releases
Please contact Hotel.Onlinewith your comments and suggestions.