Washington, D.C.—The Buccini/Pollin Group (BPG), a privately held, full-service real estate acquisition, development and management company, has acquired the 238-room Hilton Melbourne Rialto Place in Melbourne, Fla. PM Hotel Group, a national hotel management company based in Washington, D.C., will operate the hotel. The hotel recently completed an extensive $5 million upgrade.
“BPG’s recent acquisition of the beautifully renovated Hilton Melbourne Rialto Place reflects the continued success of our strategy of acquiring newly renovated, premier-branded, full-service hotels in key business markets across the United States,” says Dave Pollin, co-founder, BPG. “With strong marketing and management, we believe this hotel has excellent upside. We now own and operate 26 hotels with several other acquisitions and development projects in the works.
“The Hilton Melbourne Rialto Place is the only full-service, first-class hotel in the mainland market,” Pollin continues. “It is centrally located just one mile from the Melbourne International Airport; the surrounding aerospace industry’s booming Space Coast industrial base; Melbourne’s beautiful beaches; and multiple nearby youth sports complexes. The property also benefits from its sophisticated style, many recreational amenities, including tennis and basketball courts, and Hilton’s world-class global distribution system.”
With more 12,000 sq. ft. of function space, the Hilton Melbourne Rialto Place is one of the busiest meeting and event hubs on Florida’s Space Coast.