Officials of the PRISA Group, a family-owned developer, builder and owner of green residential communities, hospitality and resort projects in Puerto Rico and Florida, and Peachtree Hotel Group, one of the nation’s fastest growing hotel investment and management platforms, announced that their newly instituted partnership broke ground on development of the 175-room AC Hotel by Marriott Tampa Westshore/Airport. The property is currently under construction with a planned opening date of December 2017.
The hotel will be managed by Marriott Corporation. The construction is being conducted by a partnership between PRISA Group and Orlando-based Welbro Builders Corporation. Miami-based Popular Community Bank provided the financing for the project.
AC Hotel by Marriott, Tampa Westshore/Airport
The AC Hotel will reside within MetWest International, a high-end, 32-acre, mixed-use development in Tampa’s thriving Westshore Business District, Florida’s largest office district, located immediately southeast of Tampa International Airport. This property is adjacent to the upscale shopping and entertainment center, the International Plaza, 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 boasts six upscale 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.
This 175-room property appeals to the chic traveler in search of design innovation. The guest rooms follow simplistic design and include a signature closet, work desk, luggage bench and a 47” TV. Clean-cut, linear aesthetics highlight the public space areas, inclusive of a collaborative space with a communal table and reading section. The hotel’s lounge displays contemporary European design with signature lounge seating and a multimedia area. Other 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, over 900 square feet of a state-of-the-art fitness center, pool and pool bar, complimentary Wi-Fi throughout the property and 2,300 square feet of meeting space.
“Our select service hotel platform continues to grow with the addition of three new hotels in key markets in Florida, all next to vibrant food, beverage and entertainment options and with a modern design aesthetic,” said Federico Stubbe, PRISA president and CEO. “We continue to pursue ground-up opportunities in submarkets in the Southeast with strong entertainment offerings.” The Orlando hotels are located adjacent to the Mall at Millenia, the top 7th highest grossing mall in the U.S, and the AC Hotel in Tampa will be part of the MetWest International complex, located in Westshore, the largest office district on the west coast of Florida.
“We continue to seek out best-in-class partners, and PRISA’s well regarded reputation as a leading provider of green residential and hospitality projects throughout Puerto Rico speaks for itself,” said Jatin Desai, Peachtree’s chief investment officer. “With more than $89 billion in tourism revenue in 2015 alone, Florida remains one of the nation’s top destinations, and we fully expect these properties to quickly become market leaders following their initial ramp-up stages.”
About PRISA Group – McVC 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.
With more than 30 years of experience in the hospitality and real estate industries, McConnell Valdes Consulting (McVC) specializes in the planning, financing and development of hospitality and mixed-use real estate projects such as the Mandarin Oriental Barcelona, Vieques W Retreat, Westin Rio Mar, and Costa Caribe Resort, among many others. McVC is an affiliate of McConnell Valdés LLC, the largest law firm in the Caribbean.
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, Starwood, Hilton, Hyatt, Choice and InterContinental Hotels Group flags. Since its inception, Peachtree has acquired, developed or originated nearly $1 billion of hotel properties and first mortgage notes. Peachtree’s current portfolio is comprised of 62 hotel assets totaling 7,308 rooms, including 29 real estate assets and 33 notes. For more information, please visit www.peachtreehotelgroup.com.
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