Vinoy Renaissance Resort Now on Market

By | August 10th, 2018

The St Petersburg, Fla. resort property announced earlier this year that its current owner, RLJ Lodging Trust, would be looking to sell the resort property, and it is now on the market. RLJ also plans to remove the Tea Garden pavilion and stated that Phase Three of the property redevelopment plans, which include a fitness center and spa, will stay on hold.

The Vinoy Renaissance resort property in St. Petersburg, Fla. may be closer to having a new owner, reported the Tampa Bay Times.

The resort property and golf club’s management already said earlier this year that its current owner, RLJ Lodging Trust, would be looking to sell the resort this summer. Now it’s on the market, reported the Times.

In a note sent out to members earlier this week, the Vinoy wrote: “Ownership has stated that they have a very exciting announcement in a few weeks.” Exactly what that news would be was not specified, reported the Times.

The note also said that as RLJ markets the property, the pavilion in its Tea Garden will be removed. Phase three of redevelopment plans—a fitness center and spa—will stay on hold, reported the Times.

The resort’s previous owner, FelCor, was acquired by RLJ a year ago through an all-stock deal, reported the Times.

Vinoy’s management said a sale would have no bearing on its management agreement with Marriott International, reported the Times.

“We are being transparent with you by sharing all of the information that we can,” the memo to club members said. “As soon as there is more information available, we will be communicating it with you.”

The historic resort and its hotel has changed hands several times since it opened 1925: it’s been leased to the military, slid into decline, and saved from the wrecking ball, reported the Times.

FelCor bought the Vinoy in 2007 and embarked on $50 million-plus in upgrades that brought two new restaurants and renovations to its hotel rooms, golf course and clubhouse, reported the Times.

Representatives from the Vinoy said they could not elaborate beyond the letter to members, reported the Times.

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