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.

Federico Stubbe Jr PRISA Group
Photo credit: Prisa Group

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.

AC Hotel by Marriott Tampa
Photo credit: PRISA Group

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.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's South Florida Newsletters
Related Stories

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

Hilton's Q2 Results Barely Beat Wall Street's Expectations

Waste Management Buys Medley Site For $379M: The South Florida Deal Sheet

Integra Acquires Evacuated Broward Condo Complex Via Court-Ordered Auction

The World Cup Filled Stadiums. Hotel Rooms Were A Different Story

REPORT: Google Quadruples Miami Office After Founders' Mansion Buys

Braemar To Sell Key West Hotel For $190M: The South Florida Deal Sheet