PRISA Leading Charge For More Marriott, Hyatt Flags In Florida
With two hotels underway in Florida, including one in South Florida, PRISA Group's CEO says he could see more.
PRISA's Federico Stubbe Jr. tells us his firm will continue to seek out “very selective” sites in the Southeast to further roll out Hyatt and Marriott flagged properties.
Those sites, he says, are in a secret list of 10 Southeast markets his firm (with the help of JLL) derived. And, he says he'll consider only prime sites that will elevate the new hotels in the market. Even the ones PRISA has coming out of the ground “are generally poised as strong performers for the next couple of cycles,” he says.
In a JV with the Peachtree Hotel Group, PRISA is under construction with a dual-branded SpringHill Suites by Marriott and a Residence Inn by Marriott at the Mall at Millenia in Orlando, totaling 254 keys. PRISA is also going to develop an AC Hotel by Marriott in Tampa near the airport with 175 keys (above).
One of the first dual-branded hotels in Orlando, Federico says PRISA's project is adjacent to the Mall at Millenia and tons of amenities, which should help keep up occupancy in a hospitality-soaked Orlando market.
As for Tampa's AC Hotel, Federico says the opportunity is to bring a brand to stand out against the run-of-the-mill hotels there, one that can appeal to a younger audience.
“The opportunity in Tampa is...a lifestyle select-service hotel for Marriott in an otherwise very homogeneous market,” he says, noting it's next to the MetWest International mixed-use complex.