FLL Marriott Marina Changing

[Cruising89143]

This may have been posted on here I apologize but the search feature is not working for me to check. :( I get the white screen of death when I try.

 

Effective February 25th the Marriott Marina will no longer be a Marriott property. I called this morning and they are going to be renaming the hotel and it will be a yacht resort. She did not know any other information but stated that they will be independent and not part of a chain. Any reservations on the books prior to that date will be safe along with room rates. Now if I can just get them to lower my rates for my December stay I will be happy. I asked her about a website and still no information. Maybe more will be coming out towards the end of the month. If anyone gets anymore info please post it here.

 

Thanks, Gordon

[Bequia]

Old news Gordon.

Blackstone Group acquired the Hyatt in 2004. In case you have not heard they've acquired Amerisuites (soon to become Hyatt Place) and Extended Stay America as well. That will go along with they're other holdings, Wyndham, LaQuinta, Summerfield Suites, Hawthorne Suites, Wellesley Inns & Suites, Prime Hotels, Homestead Village , Microtel and The Savoy Group, a London super-luxury hotel chain with four of the most famous hotels in the world: the Savoy, the Claridge, the Berkeley, and the Connaught

. On February 1st 2006 they purchased The Dunes Golf & Tennis Club and South Seas Island Resort as well as 58 full-service hotels under brands like Hilton, Marriott and Ritz-Carlton. They are currently negotiating with Hilton's UK hotel group.

 

The Blackstone Group, a private investment bank with offices in New York and London, was founded in 1985 by its Chairman, Peter G. Peterson, and its President and CEO, Stephen A. Schwarzman. Blackstone's Real Estate Group has raised three funds representing approximately $3 billion in total equity. The group has made around 100 separate investments in hotels and other commercial properties with a total transaction value of about $11 billion. In addition to real estate, The Blackstone Group's core businesses include Mergers and Acquisitions Advisory, Restructuring and Reorganization Advisory, Private Equity Investing, Private Mezzanine Investing and Liquid Alternative Asset Investing.

 

Hotel occupancies are way up, especially in large cities and for higher-priced accommodations. Actual room rates have skyrocketed over the past few years as anyone who has tried to get a New York or San Francisco hotel room can attest. Whatever Blackstone's original plans, their return on investment has been extraordinary. It is likely that when the hotel business shows early signs of a decline, they will spin off the group as an IPO or sell it off piecemeal. As the hotel business concentrates more and more, Blackstone's properties get ever more valuable. Right now they are a safer investment for the real estate arm than office buildings, shopping centers, or apartment buildings.

ps..If you do a search of the Blackstone Group under the Hotels threads you'll find more discussion on the subject. ;)

 

 

 

[Cruising89143]

Sorry as I have not seen any of this. I knew that the Hyatt was purchased but not the others.