NEW YORK, Sept. 28, 2021 /PRNewswire-PRWeb/ -- HotelAVE has been appointed asset manager of Banyan Cay Resort & Golf, the highly anticipated 250-acre resort and golf course located in West Palm Beach that will become the first Destination by Hyatt hotel in Florida and the first full-service Hyatt property in Palm Beach County. Working in tandem with the property's ownership groups, Banyan Cay Resort & Golf, LLC, and Banyan Cay Investments, as well as its management firm, BENCHMARK®, a global hospitality company, hotelAVE will oversee the development project that is slated to open in early 2022. Once open, Banyan Cay will be the largest redevelopment project in West Palm Beach in two decades.
"We're thrilled to be a part of this exciting project. The vision for Banyan Cay Resort & Golf is coming to life, and we're confident it will be one of the best golf resorts in Florida when it opens next year," says Michelle Russo, CEO of hotelAVE. "We look forward to working alongside the teams at Hyatt and Benchmark."
Centrally located in West Palm Beach, Banyan Cay Resort & Golf is set near world-class shopping and dining in Palm Beach, as well as sought after sports venues, water activities, and more. The resort will feature 150 oversized guest rooms and suites, 22 three-bedroom villas, two on-site restaurants, a lush spa inspired by West Indies rituals, as well as flexible event space for social functions and corporate events. Guests will have access to myriad amenities including resort-style swimming pools, six tennis courts, and four pickleball courts. The crown jewel for golfers is Jack Nicklaus' 300th Signature course featuring 18-holes surrounded by West Palm Beach's natural beauty.
Having previously asset managed and advised on over 145 hotels in Florida, hotelAVE is currently engaged as asset manager in five Florida hotels and 10 other hotel projects opening in 2022 or 2023, which makes it uniquely positioned to take Banyan Cay to the next level. The company uses its propriety process, RoadMAP ®, that accelerates openings and expediates stabilization.
HotelAVE continues to grow their portfolio and expand their team, consisting of former hotel owners, operators and hospitality professional advisors, who provide a unique and hands-on operating experience of superior value and above-market return for hotel owners. As of January 2021, hotelAVE has been involved in over 25% of all the North America hotel transactions over $25M sold, whether as the asset manager for the seller, buyer or to perform acquisition due diligence, lender underwriting or other advisory service.
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About hotelAVE
Hotel Asset Value Enhancement (hotelAVE) is the leading independent hospitality real estate investment manager that provides asset management and advisory services to owners, investors and lenders of hospitality assets. The organization has provided services on over 1,000 hotels; its current asset management portfolio comprises over $6.5 billion, 22,000 rooms, and over 30 different hotel operators. In addition, hotelAVE advises on an additional $10 billion of hotel real estate annually, including acquisition due diligence, underwriting, development, financing, manager selection, franchise agreements, repositioning, renovation, dispositions, and lender services. For more information, please visit hotelave.com.
The term "Hyatt" is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Destination by Hyatt
The Destination by Hyatt brand is a diverse collection of independent hotels, resorts and residences that are individual at heart yet connected by a commitment to embody the true spirit of each location. Ranging from upper-upscale to luxury, each property is purposefully crafted to be a place of immersive discoveries, authentic design, and warm and welcoming service. As an honored host, each Destination by Hyatt hotel connects guests to both people and place—offering a sense of belonging that invites all to make our destination yours. For more information, visit destinationbyhyatt.com. Follow the Destination by Hyatt brand on Instagram: @destinationhotels, Twitter: @Destination, and Facebook: Destination by Hyatt
About Banyan Cay Development
Banyan Cay Resort & Golf offers West Palm Beach a new luxury resort and residential experience. Featuring Jack Nicklaus' 300th Signature Golf Course, state-of-the-art golf practice facilities, West Indies-inspired Club House, and a Destination Hotel coming in February 2022, members, residents and future guests alike are sure to have a refined, relaxing experience. The central location in one of South Florida's biggest travel hotspots, offers the best of both worlds—a respite away from the crowds all while being only a short drive from Palm Beaches numerous attractions. For more information, visit banyancay.com.
About BENCHMARK®, a global hospitality company.
BENCHMARK®, a global hospitality company, is a leader in the development, management, and marketing of independent, soft branded, and experiential hard branded resorts, hotels, and conference centers. In addition to the company's award-winning full service Benchmark Resorts & Hotels, its lifestyle and luxury Gemstone Collection, and its industry-leading Benchmark Conference Centers. BENCHMARK is also an investor in etc.venues, a leading provider of contemporary city centre venues for meetings, signature events, and conferences. Benchmark's combined portfolio features more than 80 unique projects across three continents. The company is passionately committed to delivering personal, inspiring, and memory-making experiences, driving total revenue and profitability, and cultivating an award winning, "Be The Difference" culture for all its employees. Benchmark, is based in The Woodlands (Houston), Texas, with offices in London, England; Miami, Florida; Park City, Utah; Scottsdale, Arizona; New Brunswick, New Jersey; Seattle, Washington; and Tokyo, Japan. http://www.benchmarkglobalhospitality.com To become a fan on Facebook, visit http://www.facebook.com/BenchmarkResortsandHotels, http://www.facebook.com/GemstoneHotelCollection. Follow us on Twitter at http://www.twitter.com/BenchmarkHotels, http://www.twitter.com/GemstoneHotels , on Instagram at http://www.instagram.com/benchmarkresortsandhotels, http://www.instagram.com/gemstonehotels, and on Pinterest at http://www.pinterest.com/benchmarkhotels/gemstone-hotels. At LinkedIn, https://www.linkedin.com/company/benchmark-a-global-hospitality-company/
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the issuer of this release, are inherently uncertain. You are cautioned not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. Neither the issuer of this release nor any other entity associated with it or its subject matter undertakes any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.
Media Contact
Jessica Milton, Benchmark, A Global Hospitality Company, +1 (786) 714-6268, [email protected]
SOURCE HotelAVE
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