Dolphin Beach Resort, a historic 173-room beachfront property in the heart of St. Pete Beach, Florida, has been acquired by SCG Beach Hospitality, LLC, a company led by Bryan Glazer. The resort, situated on prime Gulf-front property in a destination ranked among America’s top beaches by TripAdvisor, was purchased from Dolphin Holdings Limited, Inc., after over 40 years under the previous ownership.
Nizar Lakhani, president of Dolphin Holdings Limited, expressed confidence in the international appeal of the St. Pete Beach market, a belief held since their acquisition of the resort in 1981. He conveyed satisfaction in transferring ownership to the Glazer family, a respected local family, with hopes for the continued growth of Dolphin Beach Resort.
Bryan Glazer, head of SCG Beach Hospitality, affirmed St. Pete Beach’s standing as a top U.S. beach destination with significant future growth potential. He stated their commitment to maximizing the resort’s potential. This acquisition marks the Glazer family’s second resort purchase in the area, following the Vinoy Resort & Golf Club in downtown St. Petersburg in August 2018, which is currently undergoing extensive renovations. Phase 1 of the Vinoy’s renovation is expected to be completed later this year, with plans to renovate Dolphin Beach Resort to follow.
Nick and Chris Plasencia of The Plasencia Group orchestrated the transaction, one of the firm’s most recent successful deals in Florida. The company has brokered the sale and financing of over 2,500 hotel rooms across Florida’s most dynamic hospitality markets in the past year, averaging nearly $350,000 per key.
Nick Plasencia highlighted Dolphin Beach Resort’s prime location in the heart of St. Pete Beach, recognizing it as one of the nation’s most desirable hospitality destinations. He expressed anticipation for the positive changes the Glazer family will bring to the established resort.
Major Florida metropolitan areas, including the Tampa Bay Area, Miami, Naples, and Orlando, are among the fastest-growing in the country, with new residents flocking to Florida daily. The state’s booming economy is attributed to factors such as a favorable business environment, relatively lower cost of living, abundant job opportunities, and increased airlift for international and domestic leisure travel.
Major Florida metropolitan areas, including the Tampa Bay Area, Miami, Naples, and Orlando, are among the fastest-growing in the country.
The Plasencia Group is a full-service hospitality investment advisory firm, providing transaction, capital markets, asset management, and development management consulting services to hotel and resort owners throughout North America. The company has completed some of the most noteworthy transactions across North America since its inception in 1993.
