TAMPA BAY, Fla., March 19, 2018 — Officials of the PRISA Group, a family-owned developer, builder and owner of hospitality, resort and entertainment projects in Puerto Rico and Florida, together with its capital partners Peachtree Hotel Group and Argosy Real Estate Partners, today announced the grand opening of the newly constructed, 175-room AC Hotel by Marriott Tampa/Airport – Westshore.
PRISA developed the hotel, with Peachtree and Argosy acting as additional equity investors in the project. Marriott Corporation will operate the hotel. The construction was conducted by a partnership between PRISA Group and Orlando-based Welbro Building Corporation. The Miami-based offices of Popular Community Bank provided the debt financing.
“This marks the first of three Marriott-branded hotels we are opening in Florida, including an under-construction, dual-branded SpringHill Suites/Residence Inn in Orlando at the Mall of Millenia, and we remain bullish on the market,” said Federico Stubbe, PRISA president and CEO. “We now own the newest, design-focused, lifestyle product on the market, a key driver for both business and leisure travelers who want something beyond the ‘typical’ hotel stay. As a company, we focus on delivering best-in-class, quality hotels in their respective segments while innovating in architecture, art and interior design relative to the brands we represent. With its European flair and emphasis on high quality accommodations, amenities, food and beverages, we are confident the AC Hotel by Marriott Tampa/Airport-Westshore quickly will become the place to see and be seen for visitors and locals alike.”
AC Hotel by Marriott Tampa/Airport – Westshore
The hotel is housed within MetWest International, a high-end, 32-acre, mixed-use development in Tampa’s thriving Westshore Business District. The hotel is a short distance from Tampa International Airport and is adjacent to International Plaza Mall, Bay Street and Tampa International Airport, which currently is undergoing one of the largest airport expansions in the U.S. The MetWest International mixed-use complex contains multiple restaurants and bars within steps of the hotel, as well as a variety of large corporate tenants. Nearby attractions include downtown Tampa, the Raymond James Stadium and George M. Steinbrenner Field.
Designed simply in a European style, luxurious guest rooms feature plush bedding, with an integrated work desk and a luggage bench, signature closet and 47” television. Bathrooms provide glass-enclosed showers that offer AC Hotel’s signature amenities from Gilchrist & Soames. Hotel public space is equipped with a communal table and reading section, signature lounge seating and a multimedia area. Additional amenities include a market, two media salons and a business/social events room, featuring Workspace on Demand by Marriott for online meetings at other locations. The hotel also houses a 900-plus square foot, state-of-the-art fitness center, pool and pool bar, complimentary Wi-Fi throughout the property and 2,300 square feet of meeting space. The hotel also boasts an outdoor, 25’ x 58’ digital art installation that projects colorful, abstract imagery on the side of the hotel, creating a unique nighttime light show for passers-by.
Craft beer lovers will enjoy the hotel’s AC Lounge, serving a wide array of craft beers, specialty wines and unique cocktails. Guests and locals alike will enjoy the fine cuisine provided by the AC Kitchen, offering European-inspired breakfast with flaky croissants, savory egg tarts, Iberico prosciutto and Nespresso coffee, all at an affordable price.
“These properties are indicative of what we seek in hotel assets: ground-up development opportunities in attractive markets with multiple demand generators and a lack of new supply,” said Brent LeBlanc, Peachtree SVP. “Additionally, we continue to seek acquisition and third-party management candidates to round out our portfolio of select-, limited- and extended-stay service hotels throughout the United States. While deals are growing harder to come by, there remain ample opportunities for savvy hoteliers in this phase of the cycle.”
About PRISA Group
PRISA Group is a family-owned developer, builder and owner of green residential communities, hospitality and resort projects in Puerto Rico and Florida with 1,500 employees and over $100 million in annual revenues. The company has developed and built over $750 million in hospitality projects in the past 4 years alone, all on-time and on-budget, including Dorado Beach, a Ritz-Carlton Reserve, West Beach Ritz-Carlton Reserve Residences, three Hyatt Place hotels, one Hyatt House, and two casinos, among others. PRISA has been active in Florida since 2003 with the development of Tampa Bay’s first conservation subdivision, Lake Toscana. The company was awarded the 2014 Developer of the Year Award for the Americas by Hyatt Corporation. For more information, please visit www.prisagroup.com.
About Argosy Real Estate Partners
Argosy Real Estate Partners (“AREP”) specializes in opportunistic real estate investments in the lower middle market. Through joint venture structures, AREP partners with entrepreneurial operating partners possessing substantial market knowledge and a demonstrated track record. AREP currently has approximately $900 million in gross value of real estate assets and equity commitments under management. AREP manages capital on behalf of institutional investors, family offices and high net worth individuals.
About Peachtree Hotel Group
Peachtree Hotel Group operates, develops and invests in premium-branded, select- and limited-service and extended-stay hotel assets under the Marriott, Hilton, Hyatt, Choice and InterContinental Hotels Group flags. Since its inception, Peachtree has invested in more than $1.6 billion of hotel properties and first mortgage notes. Peachtree’s current portfolio is comprised of 87 hotel assets totaling 10,147 rooms, including 38 real estate assets and 49 notes. Visit http://peachtreehotelgroup.com for more information.