Monday, November 12, 2018
Real Estate

St. Pete’s Vinoy resort sold to company backed by Tampa Bay Bucs’ Bryan Glazer

ST. PETERSBURG — SCG Hospitality, whose principal is Tampa Bay Buccaneers’ owner Bryan Glazer, has bought the venerable Vinoy Renaissance Resort & Golf Club in downtown St. Petersburg.

The deed had not been recorded as of Wednesday and the price has not been revealed. The sale includes a golf club and 74-slip marina as well as the 362-room hotel.

"The Vinoy is a crown jewel for the City of St. Petersburg and the entire Tampa Bay area," Glazer said in a release. "I look forward to the Vinoy being just as iconic on its upcoming 100th anniversary as the day it opened in 1925."

The seller is RLJ Lodging Trust, which acquired the Vinoy last August as part of its $1 billion takeover of a Maryland company. It had announced that the venerable hotel was for sale, saying it wanted to get out of the resort business and concentrate on single-building, moderately price hotels like Embassy Suites.

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SCH Hospitality hired The Plasencia Group, a Tampa-based hospitality investment advisory firm, to provide owner representation and development management.

"We are genuinely excited to work alongside Bryan on the Vinoy," Lou Plasencia, the firm’s CEO, said in the same release. "St. Petersburg is an alluring lodging investment market and The Vinoy’s ideal downtown waterfront location near so many walkable amenities makes it one of the most recognizable resorts in all of Florida."

Glazer, who lives in the Tampa Bay area with his wife and children, is "committed to long-term ownership of the Vinoy," the release said.

The Vinoy will continue to be managed by Marriott under a long-term agreement. Over the past few years, the resort has undergone a $53-million-plus renovation that included an overhaul of guest rooms; the addition of Paul’s Landing, the Vinoy’s first restaurant accessible from the street; and an extensive makeover of the pool, ballroom and golf club on nearby Snell Isle.

In a recent letter to members, RLJ said that the pavilion in the Tea Garden would be removed and that phase three of redevelopment plans — a fitness center and spa — would be put on hold while it looked for a buyer.

Contact Susan Taylor Martin at [email protected] or (727) 893-8642. Follow @susanskate

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